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New payment methods for online shopping in China

Payment ways

Alipay

Tenpay

Yeepay

WeChat Pay

Appearing time

Dec. 2004

Sep. 2005

Aug. 2003

Jan.  2011

Companies

Taobao

Tencent

Yeepay

Tencent

Description

A transfer(中转)station (a third account (账户) between sellers and buyers)

Buyers' money goes directly to the sellers

Ways

Through computers or mobile phones

Mobile phones

The number of cooperative banks

over 180

18

about 100

11

The number of users

over 0.52 billion

over 0.2 billion

100,000

over 0.8 billion

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