On May 3rd, according to the Financial Times, the scale of China's mobile payment industry is more than 50 times that of the United States, reaching $5.5 trillion.
China's mobile payment industry is being subverted by Tencent, which has been under pressure, and the market share gap with Alibaba, the leader, has obviously narrowed. Alipay was born in 2004, when it was aimed at promoting the transaction of Taobao e-commerce platform. It has occupied the mobile payment market in China for a long time.