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China Contactless Payment Market Size, Share and Forecast 2019-2025

Mar 16th 2020 at 3:02 AM

The China contactless payment market is anticipated to grow at a CAGR 16.6% during the forecast period. Chinese consumers are adopting contactless payment and e-commerce methods at a faster rate as compared to the rest of the world. Increasing adoption of online retail, financial and on-demand services and prefers the use of contactless payment method. China has nearly 731 million internet users and around 70% of the internet users rely on contactless payment. With the development of the integration between mobile devices and internet technology, China is expected to have a large number of contactless payment users owing to a large number of mobile users as well as presence of major mobile manufacturers and service providers.

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The increasing proliferation of internet-of-things (IoT) devices which can potentially support contactless transactions would further boost the contactless payment market share. Additionally, fintech industry of country has reported substantial growth. China is moving towards intellectual finance due to established digitalization of financial industry. Integration of financial services with artificial intelligence is growing fast. In addition to this, Alibaba Group Holding Ltd. has launched its online payment wallet Alipay, to let the customer’s shop that lacked credit and debit cards. Tencent Holdings Ltd. has also launched its online payment wallet WeChat. Both the mobile wallets link the user bank’s account to smartphone applications.

A full report of China Contactless Payment Market is available at:


China  Contactless Payment Market Segmentation

By Device

  • Smart phones
  • Smart Cards
  • Point of Sale Terminals
  • Other


By End-User

  • Retail
  • BFSI
  • Transportation
  • Others

Company Profiles

  • Gemalto NV
  • Giesecke & Devrient GMBH
  • Heartland Payment Systems
  • Infineon Technologies AG
  • Valitor HF
  • Verifone Systems, INC
  • VISA, INC.
  • Wirecard AG

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About us:

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research- based services.

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Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari


Contact no: +1 646-755-7667, +91 780-304-0404

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