China Third-party online payment market had a total transaction value of RMB 4.65 trillion in Q2 2016, with an increase of 6.5% QoQ according to Analysis.

Alipay continued to dominate China’s third-party online payment market by total transaction value with 43.39% market share, followed by Tenpay (16.95%) and UnionPay Merchant Services (15.44%).

The total transactions of China’s third-party mobile payment market exceeded RMB 7.5 trillion in Q2 2016, an increase of 25.68% QoQ. The total transactions in the first half of 2016 reached RMB 13.48 trillion.

Alipay led China’s third-party mobile payment market with 55.4% market share, followed by Tenpay (32.1%) and Lakala (4.4%).

China users in 21 to 29 age group from the first-tier and the second-tier cities are the main mobile payment users, accounting for 43%.

Alipay’s mobile app exceeded 61.339 million MAUs in August 2014 in China according to EnfoDesk, remaining the most popular mobile payment app, followed by that of Bestpay, Tenpay and Lakala.

In comparison, the top three online payment providers in the first quarter of 2014 were Alipay, Tenpay and Unionpay by total mobile transactions who together represented over 80% of the total market share.

Bestpay is China Telecom‘s mobile payment solution. Bestpay account, once topped up, can be used to make payment on website, by SMS or voice. China Telecom users who use RFID-UIM phone card can use their phone to make payment.

China top 4 online payment mobile apps all had rapid use frequency growth rate , especially Bestpay who had 789.65% growth rate while Lakala had slight decrease in total time spent growth rate in August 2014.

Mobile payment is a big market in China and it’s very competitive. Tencent’s Wechat launched a “card payment” option this month with which users can make fast payment at supported retail chains; this payment is either using remaining fund in Wechat Wallet or linked to the user’s bank ATM card.

Alibaba’s Alipay partnered with Huawei and launched finger payment standard in China, which is first available on Huawei’s smartphone Mate 7. Alipay still dominates China’s mobile payment market in Q2 2014 as it does in online payment market. In addition, more players have entered the market including Baidu; read more here.

Also read: China Online Payment Market Overview for H1 2014

According to iResearch, China third party mobile payment market reached 296.51 billion yuan (USD 48.35 billion), with 152.6% QoQ increase.

As more and more consumers got used to mobile end internet, mobile internet payment occupied 92.7% of total mobile payment markets.

Alipay ranked the top with 72.6% share in third party payment in Q3 2013. In third party mobile payment market, Alipay dominated with 78.4% share. Lakala ranked the second, with 10.6% in third party payment market and 11.5% in third party mobile payment market.

Sina will launch a Square style mobile payment solution with Lakala, a Chinese independent payment solutions powered by China Unionpay.

The cooperation is still under negotiation, said by one staff from Lakala. Lakala would help Sina with hardware and software development and system maintenance. The final product might even be cheaper than Lakala’s own Square style mobile payment.

They also said that Sina mobile payment would be connected with Weibo Wallet, which means users could use Sina square style mobile payment to recharge Weibo Wallet.

Weibo Wallet was launched by the end of 2012, providing an online payment for water and electricity charges, phone bills and transfer service. Weibo Wallet mobile app was launched in March 2013. Sina is determined to enter mobile payment market.

However, cooperation with Sina seems to have conflicts with Lakala own mobile payment in some ways. But La Ka La will have its benefits, not only can they plant their own information into Sina mobile payment in hardware and software, but they are seeking to increase user loyalty through Sina.