中國專業付款市場：年度調查報告(2009年)

Abstract

Research Object

Third-party payment as used in the 2009 Annual Report on China Third-Party Payment Market refers to the action by which institutions or individuals use communication network-based electronic equipment to indirectly issue transaction instructions to financial institutions in the banking industry via non-banking financial institutions to transfer funds. By way of issuance of electronic payment instructions, third-party electronic payment services are divided into online payment, telephone payment, mobile payment and payment by other electronic terminals. This Report will limit its research scope to the first three types of services. Among them, online payment refers to the mode of Internet-based payment, while telephone payment refers to that users use fixed phone to make payment through fixed lines and mobile payment refers to that users use mobile communication equipment to make payment through the wireless network. Terminal equipment may be mobile phone, PAS or PDA.

The companies researched in this report mainly include AliPay, TenPay, PayPal, 99Bill and YeePay, which are leading third-party electronic payment companies in China and the world.

Main Conclusions

1. Third-party Electronic Payment Transactions Maintained High Growth

Despite a slowdown in economic growth in 2008, third-party payment transactions in China continued to show a momentum of accelerating growth. During the year, total transaction value reached 281.3 billion Yuan, up 178.8% year-on-year. The number of registered third-party electronic payment users stood at 107.30 million. In addition to continuously rising personal users, the growth of enterprise users and the promotion of industry applications have also become powerful driving forces for the increase in third-party payment transaction values.

2. Progress in Policy and Regulation System Building Was Slow Currently, a sound legal system has yet to be developed for the market.

The Administrative Measures for Payment and Liquidation Organizations, the focus of attention for many enterprises, has undergone an opinion solicitation stage in the past three years or so. But, this document has not been officially released. Various issues, such as entity status, scope of business and rulings over dispute have yet to be specified. Consequently, in an attempt to avoid policy risks, some enterprises have greatly narrowed their product and service scope, while others have operated businesses on the fringes of the law, leaving risks and hidden dangers behind. Currently, China' s third-party electronic payment market is still in a stage of fast growth. But, lack of sound policies, laws and regulations continue to restrict market innovations, standardization and progress.

3. Dependent Third-Party Payment Services Continued to Get More Market Shares

Currently, there is no significant functional gap between dependent third-party payment platforms and independent third-party payment platforms. Moreover, drawing upon their powerful transaction platforms (such as AliPay' s attachment to Taobao and Alibaba) and user base (for example TenPay has a huge QQ user group), dependent third-party payment platforms have actually gained certain advantages in terms of transaction volume and user number growth. They look set to expand their leading advantages. In 2008, dependent third-party payment platforms accounted for 73.4% of the transaction value in the market. In 2011, the figure is expected to reach 77.2%.

Table of Contents

Research Object

Main Conclusions

Key Findings

I. Overview of the Global Third-Party Electronic Payment Market in 2008

• (I) Market Size
• (II) Basic Characteristics
  • 1. Transaction Value Growth Slowed Down
  • 2. Mobile Payment Became the Focus of Attention
  • 3. The Demand for International Payment Is Emerging
  • 4. Competition Gives Way to Cooperation
• (III) Major Countries and Regions
  • 1. The United States: Growth Rate Experiences a Marked Slowdown, But the Country Still Takes a Lead in Terms of Transaction Volume
  • 2. Europe: The SEPA Initiative Reduces Payment Cost
  • 3. South Korea: Carriers Dominate the Mobile Payment Market
  • 4. Japan: There Are Various Value-Added Mobile Payment Services

II. Overview of China' s Third-Party Electronic Payment Market in 2008.

• (I) Market Size
• (II) Basic Characteristics
  • 1. The Fast Growth Momentum Did Not Change
  • 2. Industry Applications Were the Main Direction
  • 3. Customer Demand Diversified
  • 4. The Legal System Needs Improvement
• (III) Market Structure
  • 1. Classification of Market Entities
  • 2. Industry Chain Structure and Business Workflows
  • 3. Business Structure

III. Forecast for China' s Third-Party Electronic Payment Market, 2009-2011

• (I) Forecast for Market Size
• (II) Forecast for Market Structure
  • 1. The Gap Between Independent and Dependent Third-Party Payment Platforms Will Widen Further
  • 2. Mobile Payment and Telephone Payment Will Gain More Market Shares

IV. Trend of China' s Third-Party Electronic Payment Market, 2009-2011

• (I) The Market Environment
  • 1. Huge Demand and Potentials Will Guarantee Fast Market Development
  • 2. The Competition Pattern Will Stabilize
• (II) Key Vendors' Competitive Strategies and SWOT Analysis
  • 1. AliPay
  • 2. TenPay
  • 3. 99Bill
  • 4. YeePay

V. Factors That Affect China' s Third-Party Electronic Payment Market

• (I) PEST Analysis
  • 1. The Policy Environment
  • 2. The Economic Environment
  • 3. The Technological Environment
  • 4. The Social Environment
• (II) Status of E-business
• (III) Status of Online Banking

VI. Competitions in China' s Third-Party Electronic Payment Market in 2008

• (I) Competition Pattern
  • 1. Competitions Between Existing Vendors
  • 2. Potential Entrants and Substitutes
  • 3. The Policy Environment Will Become Clear
• (II) Product and Services
  • 1. There Will Be More Methods of Payment
  • 2. The Competition Pattern in Key Fields Will Be Stable, While Competitions in Potential Fields Will Gradually Intensify
  • 3. Risk Control Gradually Attracts Attention
• (III) Technology
  • 1. Security and Convenience Will Continue to Be the Main Directions for Innovation
  • 2. System Platforms Will Become More Economic and Practical
• (IV) Marketing
  • 1. Trading Platforms Aid Brand Promotion
  • 2. E-business Products Will Be Fully Integrated
  • 3. The Focus of Competitions Will Shift to Industry Customers

VII. User Demand in China' s Third-Party Electronic Payment Market

• (I) Characteristics of User Groups
• (II) Product Functions and Services
  • 1. Enterprise Users
  • 2. Personal Users
• (III) Brand Preferences

VIII. Recommendations

• (I) Product Strategies
  • 1. Lower the Use Threshold
  • 2. Simplify Operation Workflows
• (II) Service Strategies
  • 1. Comprehensive One-Stop Services
  • 2. Personalized Industry Solutions
• (III) Operational Strategies
  • 1. Focus on Industry Users
  • 2. Tap User Demand, and Enrich New Services
  • 3. Pay Attention to the Mobile Payment Field Report Specifications

List of Tables

• Table 1. Overall Distribution of China' s Third-Party Electronic Payment Market Industry
• Table 2. Comparison of Third-Party Electronic Payment Enterprises' Payment/Prepayment Means
• Table 3. AliPay' s Main Competitive Strategies
• Table 4. SWOT Analysis of AliPay' s Competitive Strategies
• Table 5. TenPay' s Main Competitive Strategies
• Table 6. SWOT Analysis of TenPay' s Competitive Strategies
• Table 7. 99Bill' s Main Competitive Strategies
• Table 8. SWOT Analysis of 99Bill' s Competitive Strategies
• Table 9. YeePay' s Main Competitive Strategies
• Table 10. SWOT Analysis of YeePay' s Competitive Strategies
• Table 11. Enterprise Users' Demand and Analysis of Product Functions
• Table 12. Personal Users' Demand and Analysis of Product Functions

List of Figures

• Fig. 1 - Transaction Value and Its Growth in the Global Third-Party Electronic Payment Market, 2005-2008
• Fig. 2 - User Numbers and Its Growth in the Global Third-Party Electronic Payment Market, 2005-2008
• Fig. 3 - Composition of Transaction Value in the Global Third-Party Electronic Payment Market in 2008--By Mode of Payment
• Fig. 4 - Transaction Value and Its Growth in the US Third-Party Electronic Payment Market, 2005-2008
• Fig. 5 - Transaction Value and Its Growth in China' s Third-Party Electronic Payment Market, 2005-2008
• Fig. 6 - Registered User Numbers and Its Growth in China' s Third-Party Electronic Payment Market, 2005-2008
• Fig. 7 - Market Shares of Competitors in China' s Third-Party Electronic Payment Market in 2008
• Fig. 8 - Structure of China' s Third-Party Electronic Payment Industry Chain
• Fig. 9 - Third-Party Electronic Payment Business Workflows in China
• Fig. 10 - Third-Party Electronic Payment Business Structure in China, 2007-2008
• Fig. 11 - Forecast for Value and Its Growth of Third-Party Electronic Payment Transactions in China, 2009-2011
• Fig. 12 - Forecast for User Numbers and Its Growth in China' s Third-Party Electronic Payment Market, 2009-2011
• Fig. 13 - Transaction Value Forecast for Different Competitors in the Market, 2009-2011
• Fig. 14 - Forecast for Business Structure of China' s Third-Party Electronic Payment Market in 2009
• Fig. 15 - Pattern of Competitions in China' s Third-Party Electronic Payment Market in 2008
• Fig. 16 - Main Competitors' Share of Transaction Volume in China' s Third-Party Electronic Payment Market in 2008
• Fig. 17 - Third-Party Electronic Payment Users' Professional Structure in 2008
• Fig. 18 - Online Shoppers' Age Structure in 2008
• Fig. 19 - Online Shoppers' Income Structure in 2008
• Fig. 20 - Potential Users' Brand Preferences in China' s Third-Party Electronic Payment Market in 2008
• Fig. 21 - Third-Party Electronic Payment Users' Price Sensitivity in China in 2008