China is home to 641.6 million Internet users, more than the entire population of the United States. According to the People’s Bank of China, mobile transactions rose by 255% to ¥ 3.89 million between 2013 and 2014. The vast majority (85%) of China’s online payments are processed by Chinese payment systems like AliPay, Wechat Pay and China UnionPay.
Alipay lets customers pay for online purchases with eWallet, credit cards, debit cards and bank transfers. Integrate Paymentwall today to monetize your web services, games and applications by accepting Alipay, the most popular local Chinese payment method.
WeChat Pay is a payment solution integrated into the WeChat messanger, popular in China and many other countries. The customer can also pay on the web, by scanning the QR code with a smartphone to complete the payment.
China UnionPay is a local credit card primarily available in China but widely accepted in more than 100 countries and at more than 1 million ATMs worldwide. At least 3.4 billion UnionPay cards are currently in circulation.