The Paypers. Insights in payments.China's online transaction volume to reach EUR 9.4-9.9 billion in Q4 2008
In Q4 2008, the online transaction volume is expected to reach between EUR 9.4 and 9.9 billion in China.
In spite of the financial crisis, the online transaction volume is on an upward curve as a result of the expansion of payment channels and application fields and boosted by the launch of new online payment services. Alibaba's online payment services provider Alipay has made an online payment system available for utility payment, allowing Chinese internet users to pay online for water, electricity, town gas, and mobile phones. Tenpay and PayEase have had similar initiatives, the first teaming up with ten partners for the delivery of online payment services for air tickets. The total transaction volume of online shopping in China reached EUR 7.51 billion in Q3 2008. Data has been released by market research firm iResearch Consulting Group.
According to estimates for the full year of 2008, the volume of e-commerce transactions is to jump to EUR 27.2-28.3 billion.
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