TA sees promise in YeePay's offline offering
China's third-party online market hit RMB8.08 trillion ($1.3 trillion) by gross merchandise volume (GMV) last year. Alipay, Alibaba Group's payment platform, is the dominant player with a 49.6% share, according to consultancy iResearch. Tencent Holdings' Tenpay ranked the second with 19.5%, followed by China UnionPay with 11.4%.
YeePay, with just 3.2%, has little chance of supplanting its rivals in the online space. As a result, the company has found itself a niche targeting offline merchants, which between them account for an...
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