WeChat Pay and Alipay are major Chinese financial superapps and together account for close to 95 percent of China’s retail mobile payment transaction volume.

Format Online paper / PDF

Location PART 2 - FOUR HIDDEN CHIMNEYS CHAPTER 9: ARE UNICORNS REALLY WHITE? YES, BUT . . . (Again)

"WeChat Pay and Alipay are major Chinese financial superapps and together account for close to 95 percent of China’s retail mobile payment transaction volume."

The IMF identifies WeChat Pay and Alipay as financial superapps whose combined position represents close to 95 percent of Chinese retail mobile payment transaction volume.

View Source

Source title BigTech in Financial Services: Emerging Regulatory Considerations

Source authors Parma Bains; Gabriela E Conde; Nobuyasu Sugimoto; Caroline Wu

Source year 2026

Confidence high

Importance mid