Cash payment, Alipay payment, WeChat payment, which one suffers more from our warm welcome?

Cash payment, WeChat payment, Alipay payment, all can do the purpose of payment, the actual use of which means of payment is a little more different.From the cu...

Apr 07,2022 | Bubles

Cash payment, Alipay payment, WeChat payment, which one suffers more from our warm welcome?

Cash payment, WeChat payment, Alipay payment, all can do the purpose of payment, the actual use of which means of payment is a little more different.

From the current market trend, it seems that nowadays the application of cash is getting lower and lower chinese payment system, and there are many people who do not take money in a year, for example, I will take some cash out as a big red envelope in the course of the Chinese New Year, in other cases most of them are not easy to take cash, because nowadays either Alipay or WeChat payment is very convenient, and most of the people in the metropolis from big supermarkets to small business vendors, and even street begging are It is also very convenient to be able to use WeChat or Alipay to pay.

Compared to cash, mobile payment has greater advantages, such as convenience, speed, environmental health, and do not have to worry about receiving counterfeit bills, and similar to Alipay mobile payment such third-party mobile payment companies will appear list of accounts, so you can understand clearly where their money used in the area, and then prepared to carry out the money. In addition, the application of mobile payment received money can immediately withdraw cash to the financial institutions, without the store personally run to the bank counter or ATM savings, which can save a lot of time for the big guys.

Because of the many advantages of mobile payment, many stores at this stage apply mobile payment to receive payment, and some even establish that they are not compatible with cash receipt and payment, but only use cell phone WeChat or Alipay to receive payment, although this kind of behavior is against the regulations, but also from the side shows that at this stage mobile payment suffers from our level of favor.

For Alipay and cell phone WeChat prefer which one, in terms of myself, I can prefer Alipay some. Since I do a lot of things based on Alipay, such as investing money, paying utilities, paying credit cards, and receiving payments mostly based on Alipay, the number of times I use Alipay is very high.

In addition to Alipay, cell phone WeChat will sometimes be used, especially to send red envelopes, most of them are only based on the WeChat signal to carry out.

But from the current overall situation of the market, it seems that people using WeChat should be more than Alipay, but the transaction amount of Alipay is more than that of mobile WeChat, which can be seen out from some data statistics.

For example, in 2018, the number of transaction orders of WeChat payment did 460 billion, while the number of transaction orders of Alipay was only 197.5 billion, which is equivalent to the number of transaction orders of WeChat payment is 2.32 times of Alipay.

And at this stage, the coverage rate of mobile WeChat to consumers is much higher than Alipay, for example, the coverage rate of qq wallet to consumers is 89.2%, while the coverage rate of Alipay is only 69.5%.

But from the transaction operation scale, it seems that the transaction operation scale of Alipay is a lot more than WeChat payment at this stage. For example, the chart below shows the ranking status of the transaction market share of China's third-party mobile payment sales market in the first quarter of 2019.

From this data analysis we can see that at this stage Alipay's sales market transaction market share does 53.2%, while Tencent Finance (including WeChat Pay and its qq wallet) has a market share of only 39.44%.

And from the development direction of Alipay and WeChat Pay, it seems that Alipay's transaction market share has a great development trend of pulling down the difference of WeChat Pay, because the publicity of Alipay at this stage is particularly large, for example, gradually from the end of 2018, Alipay has released several large and medium-sized online payment and its offline payment back to cash theme activities, which at a certain level greatly stimulates the large number of people to apply The frequency of Alipay and shaped the habit of customers to apply Alipay, so many consumers have migrated from WeChat payment to Alipay.


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