Several companies offer online payment platform services to facilitate online transactions in China.
1. Alipay is still leading the Chinese market. The subsidiary of Alibaba benefits from all the transactions of Alibaba (B2B), Taobao (C2C) and Tmall (B2C).
2. Tenpay is second and benefits from the huge user base the Internet firm called Tencent has.
3. UnionPay: this firm has been offering traditional payments through credit cards since 2002. It is the Chinese equivalent of Visa and Mastercard.
4. 99bill: the Company was one of the first companies in China offering email and mobile phone number based online payment platform and solutions. Investors include seasoned China Internet industry entrepreneurs and international venture capitalists.
5. ChinaPnR: the company says it operates over 100,000 POS payment devices.
The entrance of Baidu and Sina will change the market very soon.