China third-party mobile payment market up 27.9 pct in Q4
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China's third-party mobile payment market expanded 27.9 percent quarter on quarter in the fourth quarter of last year, according to market research firm Analysys International.

The value of third-party mobile payment transactions during the three months totalled 37.7 trillion yuan (about 6 trillion U.S. dollars), Analysys International said in a research note.

The traditional e-commerce boom in the fourth quarter and more people using mobile payment services spurred the growth in mobile transactions, it said.

China's third-party mobile payment market has been growing rapidly in recent years, offering consumers a more convenient alternative to bank payment channels.

Alipay operated by Alibaba affiliate Ant Financial and Tencent Financial dominated with 54.26 percent and 38.15 percent of the market, respectively.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan