China
A duopoly, and no third option.
- Currency
- CNY
- Settlement
- T+1
- Methods
- 3
The market
Alipay and WeChat Pay together account for the overwhelming majority of consumer payments. There is no meaningful path to a Chinese consumer that does not run through one of them, with UnionPay covering the card layer.
What we would tell you
Acceptance is the easy half. Plan settlement and repatriation first, then integrate.
- Population
- ~1.41 billion
- Wallet duopoly share
- Dominant
- Indicative
- Cross-border QR links
- Expanding regionally
Moving value out
Materially constrained
Collecting here is not the hard part. This rating describes repatriation.
Capital controls are strict and outward flows are closely supervised. Settlement structure is the defining constraint, not acceptance.
Digital assets
Digital-asset settlement is not available as a route for regulated merchant flows.
Methods
3 local methods in China.
2 move money in both directions. 1 are collection only.
- AlipayWalletin · out
- WeChat PayWalletin · out
- UnionPayDomestic cardin
Bar widths indicate approximate share of local online payment volume and are shown for ordering only.
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