Alternative payments make up 72% of China’s e-commerce market

The e-commerce market is expected to grow 10.5% in 2022.

Alternative payment methods now account for 72% of the market share of e-commerce payments in China, according to the latest consumer survey by data and analytics firm GlobalData.

China’s e-commerce market is further expected to grow by 10.5% and reach $2.3t (CNY14.5t) by end-2022, which is good news for the growth of mobile and digital wallets in the country.

By 2026, the market is expected to be worth $3.2t (CNY20.2t), growing at a compound annual growth rate of 8.7% over the next four years.