Alibaba’s Alipay and Tencent’s WeChat Processed over $3tn in 2016

According to a report from UN-based Better Than Cash, between Alibaba’s Alipay and Tencent’s WeChat, customers sent over $3 trillion in payments in 2016; the chart above shows how far the services have come since 2012; percentage of digital payments (online & mobile) went from 3.5% to 17% of all transactions over the same time period; Alipay and WeChat own 63% of the market for digital payments. Source