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Users ages 21 to 29 in tier 1 and 2 cities in China account for more than two-fifths of all mobile payment users in the country, and along with users in their 30s make up the vast majority of the mobile payment user base.
That’s according to data from Ipsos about mobile users in tier 1 and tier 2 cities in China who use their phone to pay bills, make mcommerce transactions, conduct online-to-offline (O2O) commerce and other similar activities.
Among all mobile users who conduct these activities, nearly half are in their 20s, and more than a third are in their 30s. That leaves just 21% of the user base in older or younger age groups.
Those who do make mobile payments in China tend to use payment services Alipay and WeChat Pay for different types of transactions. For example, 60% of those surveyed say they use Alipay to pay bills, whereas only 17% said the same for WeChat Pay. Likewise, 56% of mobile payment users use Alipay to work with financial projects, like stocks and wealth management; just 14% use WeChat to do the same.
But there is one area where WeChat Pay is used by more users than Alipay: P2P transfers. Not surprisingly, the payment wing of a messenger app is most often used to send payments between regular people.
Most commonly, mobile shopping hooked mobile payment users in China; 35% of those surveyed say they began to use the services via an mcommerce payment. Just 10% began using a payment service to conduct a P2P transfer.
So while mobile payment apps are certainly a way forward in the future, right now, very select ages are using them in tier 1 and 2 cities in China.
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