- The China domestic money transfer market would grow at a CAGR of nearly 7.4% during the period 2013-2018.
- Internet would revolutionize the remittance market both domestically and internationally. The online transfer services which till now have not been accepted by the people because of the security issues will be the most important growth driver for the domestic money transfer market in china
- Alipay, Lakala, Union Pay, Tenpay are some of the leading players in the Mobile Payment Industry in China.
Ken Research announced its latest publication on “China Money Remittance and Payments Market Outlook to 2018” provides a comprehensive analysis of the domestic and international money transfer, bill payment and mobile payment market in China. The report covers various aspects such as market size of money transfer market in terms of inflow of money from different countries and inter provincially. The market has been segmented on the basis of different payment channels such as formal and informal channel and the major flow corridors internationally and domestically as well. Market size of mobile payment market and the bill payment market has also been defined on the basis of transaction volume. The mobile payment market has been segmented on the basis of different channels of payment such as SMS Payment, Proximity Payment and mobile web payment as well as on the basis of different types of transactions (Consumer and enterprise). Furthermore, the bill payment market has been segmented on the basis of different payment channels such as offline payment, online payment, mobile payment and payment through prepaid cards. The market size for third party bill payment has been defined on the basis of transaction volume with the segmentation by different types of bills paid such as utility bills, airline tickets, online shopping, online funds and others.
China has one of the largest domestic migrant workers in the world. The number of domestic migrant workers in the country is increasing at a steady rate from the past few years. The number of domestic migrant workers has gone up from 229.8 million in 2009. The internal migration in China has been on a rise in the past few years justified by the increasing number of domestic migrants in the country. China underwent massive internal migration to the coastal areas of Guangdong, Zhejiang, Shanghai and Jiangsu mainly because of the demand for low cost laborers.
The bill payment market in China has grown at a CAGR of nearly 54.1% during 2009-2013. One of the major factors supporting the growth is the development of online payment channel in the country. There are broadly four different bill payment channels available, such as offline payment, online payment, mobile payment and prepaid cards & others. The preference of payment Channels is mostly based on the convenience and the resources available with the buyer. The online payment channel has been gaining a lot of popularity amongst the population of China as the internet penetration rate has been on rise in the country. Some of the major companies providing the bill payment services in China are Alipay, Tenpay, ChinaPay, 99bill.com, Yeepay and others.
The transfer of funds through the online mode has gained immense popularity in China. The major banks in China have been investing on the online portal development in order to cater to the growing demand of online money transfer. Online money transfer has grown at a rapid rate in the recent years, mainly because of a high internet penetration rate in the country and a lower transaction cost than the branch transfers where people have to physically be present.
“The rising migrations both domestically and internationally, boom in mobile internet users and employment of effective and efficient policies by the government of China , would lead to the overall development of money transfer and payment industry in the future”, according to the Research Associate, Ken Research.
Key Topics Covered in the Report:
China International Money Transfer Market
– Market Size by Inflow and Outflow of Money
– International and Domestic Market Value Chain
– Market Segmentation by
o Different Types of Payment Channels Available
o Flow of Money from Different Corridors
– Government Regulations
– Trends and Development
– Competition and Market Share of Major Formal Channels
– Future Outlook
China Domestic Money Transfer Market
– Market Size by Inflow of Money
– Market Segmentation by
o Different Types of Payment Channels Available
o Formal Channel Segmentation by Different Payment Channels Available
o Formal Channel Segmentation by Different Services Available
o Interprovincial Flow of Money
– Trends and Development
– Challenges and Growth Drivers
– Competitive Landscape of Major Commercial Banks
– Future Outlook
China Bill Payment Market
– Market Size by Transaction volume
– Market Segmentation by
o Different payment Channels
o Different Payment Sources
– Future Outlook
China Third Party Bill Payment Market
– Market Size by Transaction Volume
– Market Segmentation by
o Different Types of Bills Paid
– Government Regulations
– Strategic Partnerships and Development
– Competitive Landscape and Market Shares of Major Companies
– Future Outlook
China Mobile Payment Market
– Market Size by Transaction Volume
– Mobile Payment Value Chain
– International and Domestic Market Value Chain
– Market Segmentation by
o Different Channels Available
o Different Types of Transactions
– Joint Ventures and Partnerships
– Trends and Development
– Competition and Market Share of Third Party Mobile Payment Providers
– Future Outlook
China Diaspora
China Macroeconomic parameters
Companies/ Banks Covered in the Report
Alipay
Tenpay
Industrial and Commercial Bank of China
Bank of China
Bank of Communications
Postal Savings Bank of China
Browse and Download Report Here – http://www.kenresearch.com/banking-financial-service-insurance/financial-services/china-remittance-payment-market-research-report/563-93.html
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