Market concentration is rapidly increasing. In the fourth quarter of 2016, Alipay and Tenpay have a market share of 92%, of which Alipay's market share reached 55% and Tenpay's market share reached 37%. We believe that mobile payment has a strong network effect and scale effect. The market is highly concentrated in the rationality. Payment is the foundation of Internet finance. In the future, Alipay and Tenpay are expected to rely on their accumulated user base and transaction data for deep realization. Bbq Griddle,Griddle Plate Charcoal Bbq,Griddle For Grill,Bakeware Griddle Jiangmen Pengjiang Hetang Meijin Stainless Steel Products Factory , https://www.ukwkitchenwares.com
In 2016, China's third-party mobile payment market grew rapidly. In 2016, the transaction volume of China's third-party mobile payment market reached 58.8 trillion, an increase of 381.9 year-on-year. The main driving factors were 1. the popularity of mobile devices and the maturity of mobile Internet payment technology; The emergence of phenomena-level products such as Alipay; 3. The mobile payment coverage scenario has been greatly improved to increase the frequency of user usage. We believe that the penetration rate of China's mobile devices and the coverage of payment scenarios have gradually become saturated. Future online and offline integration and payment scenario innovation will be a new driving force for the growth of the mobile payment market.
The market penetration rate continues to rise. According to iResearch, China's current non-cash penetration rate reaches 42.2%, of which the penetration rate of offline scan code payment is 1.9%. We believe that cashless is the general trend, and mobile payment relies on its fragmentation and portability. The characteristics will become the most important force in the future payment market.
The regulatory field is becoming more comprehensive, and license compliance has spread to many fields. Since 2016, the state has strengthened supervision in the areas of license compliance, reserve funds, anti-money laundering, and real-name systems, and established a comprehensive market access system and strict regulatory system. . We believe that the strengthening of supervision by the state will have a certain impact on the third-party mobile payment market in a short period of time. However, in the long run, supervision will strengthen the integration of the industry and explore the new profit model of the industry.
The offline scanning code payment industry entered an accelerated development period. In 2016, China's non-cash payment penetration rate reached 42.2%, of which the penetration rate of offline scanning code payment was 1.9%. In the future, with the offline mobile payment habits, the line will be further cultivated. The sweep code payment will usher in a wave of outbreaks. We believe that the emergence of QR code payment has greatly expanded the payment scenario of mobile payment. In the future, with the deepening of online and offline payment integration, the frequency of scanning code payment will be further enhanced.