ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Alibaba, Tencent lead as China's mobile payments triple

Sharing economy driving growth in usage

Chinese smartphone makers like Xiaomi are scrambling for market share as shipments continue to slide.

GUANGZHOU -- Mobile payments in China roughly tripled on the year to 23.04 trillion yuan ($3.49 trillion) in the April-June quarter, with local tech giants Alibaba Group Holding and Tencent Holdings dominating more than 90% of this fast-growing market.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more