According to Gartner's research, the market size of global innovation payment (covering mobile and third-party payment) has increased from US$325.2 billion in 2014 to US$ 721.3 billion in 2017, with the annual compound growth rate of 30.4%, In particular, market size of Asia Pacific is expected to be top around US$165.2 billion in 2016, outrunning Africa's US$160.1 billion, and to become the world's largest innovative payment market. Amid the boom in the innovative payment market, branded vendors are also committed to get more market share and revenue by expanding the scope of business. The following will briefly examine the development trends of major Chinese innovation payment service providers (Alibaba, Lakara Group, Tencent).
I、Alibaba expands the market share with exploring from online to offline markets, from private to public sectors, and from local to international markets
II、Lakara Group focuses on O2O business model, people's livelihood and community-based e-commerce shopping demand
III、Tencent paving ways into life applications, games transaction protection, and business cash flow markets
IV、CONCLUSIONS