Industry landscapes
Get Pro
Industry report

Funding and advertised pay are reported in USD; filed accounts retain their stated source currency and basis.

Exchange-rate basis

Indicative conversions use ECB reference rates dated 2026-09-14, applied consistently across all periods. They are not historical exchange rates. Indian rupees may use crore (1 crore = 10 million); other currencies use K, M and B. CSV downloads, source documents and quoted news headlines retain their original currencies.

THE CHINA EDITION 2026

China’s
payments infrastructure industry,
in focus.

The companies, capital and talent shaping payments infrastructure in China. Find the leaders. Understand the segments. See where the activity is.

Explore in Radar Read the key signals
Snapshot: Funding in USD
Illustrated cover for Payments Infrastructure Industry Landscape of China
CN
COMPANIES · CAPITAL · TALENT

An industry ecosystem,
measured in context.

Payments Infrastructure illustration
Companies tracked 268Payments Infrastructure ecosystem in China Disclosed funding $22.71B43 companies · all recorded rounds Companies hiring 6With open roles at the snapshot Tracked open roles 120 employers posted in the preceding 30 days
MEET THE COMPANIES

Explore China’s payments infrastructure leaders

24 featured companies from the funding, hiring, revenue and team-size leaderboards.

Expand panel +
Explore the full landscape
Payments Infrastructure company highlights in China, snapshot 4 September 2026
Company
Ant Groupantgroup.com$20.62B—16,000—
Lakalalakala.com$349.95M—2,315—
China Unionpay Merchant Serviceschinaums.com$297M———
55tuan55tuan.com$250M—124—
XTransferxtransfer.com$168M———
Gaodeng Technologygoldentec.com$141.14M———
Micro taxwetax.com.cn$141.14M———
TNG Wallettngwallet.hk$115M———
BBPOSbbpos.com—5 roles112—
Obitaobita.xyz—2 roles——
PhotonPayphotonpay.com—2 roles——
BridgeNixbridgenix.com—1 roles——
PayerMaxpayermax.com—1 roles——
Statrysstatrys.com—1 roles49—
Alipayalipay.com————
China Systemschinasystems.com——8—
Currenxiecurrenxie.com——44—
EFT Solutionseftsolutions.com——65—
Epayepay.com————
KPaykpay-group.com——90—
OnerWayonerway.com————
PayDollarpaydollar.com————
Payssionpayssion.com————
SUNMIsunmi.com——885—
24 featured companies

Locked revenue figures are available in Radar; the eight company financial previews stay the same throughout this page. A dash means the figure is outside these featured lists. Revenue years vary by company; the figures are not a like-for-like revenue comparison. Compare annual accounts ↗

Company discovery

Recorded evidence only

Explore the live startup set in Radar

No company example met every recorded classification, independence and public-profile gate in this snapshot. The live directory may have newer qualifying companies.

Explore classified startups in Radar ↗
THE KEY SIGNALS

Payments Infrastructure industry KPIs in China

A few useful ratios bring the size of this ecosystem into perspective.

4 September 2026
Hiring participation2.2%

6 of 268 tracked companies have open roles.

Funding participation24.3%

65 of 268 tracked companies have a recorded round.

Top 3 funding share93.7%

Share of disclosed capital received by the three largest recorded recipients.

Median disclosed round$10M

Midpoint of 44 rounds with a disclosed amount.

Scale is concentrated. Opportunity is broader. The three largest funding recipients hold 93.7% of disclosed capital, while 75.7% of tracked companies have no recorded funding round.

Explore the segments →
CAPITAL & COMPANY FORMATION

How China payments infrastructure has grown

Recorded company formation and disclosed funding across the complete annual series shown.

Expand panel +
2016 — 2025

Disclosed funding by year

Sum of recorded funding rounds · USD

China payments infrastructure
$0$4.01B$8.02B$12.03B$16.04B2016: $4.83B20162017: $130M20172018: $14.07B20182019: $315.22M20192020: $81.47M20202021: $148.38M20212022: $25.79M20222023: $020232024: $62.8M20242025: $66.5M2025
View the numbers
Annual payments infrastructure funding and company formation in China
YearFunding (USD)FoundedRaising
2016$4.83B168
2017$130M143
2018$14.07B146
2019$315.22M96
2020$81.47M164
2021$148.38M143
2022$25.79M42
2023$060
2024$62.8M52
2025$66.5M14
WHERE CAPITAL SITS

Funding concentration

Share of all disclosed company funding.

  • Ant Group90.8%
  • Lakala1.5%
  • China Unionpay Merchant Services1.3%
  • Other companies6.3%

Funding by stage

90 recorded rounds since 2016

NUMBER OF ROUNDS
Seed & Angel25 27.8%
Series A–B50 55.6%
Series C+ / PE13 14.4%
Grants, debt & other2 2.2%

Recent recorded rounds

Latest recorded rounds · USD
0 rounds

Swipe or scroll horizontally to browse.

Largest and notable recorded rounds

Each card is one recorded round
10 cards

Swipe or scroll horizontally to browse.

Series A07/2015
Ant Groupantgroup.com$2.12B

Backed by National Social Security Fund Council and China Life Insurance and others.

Series D06/2015
Lakalalakala.com$244.95M

Backed by China Re and China Continent Property & Casualty Insurance and others.

Series A09/2017
TNG Wallettngwallet.hk$115M

Backed by Beijing Lianchuang Yongxuan Investment Management Group and Nogle Capital Management and others.

THE BUSINESS BEHIND THE ACTIVITY

Revenue, profitability & financial strength

Expand panel +

Annual accounts availability

The measured China identity-to-filing probe did not produce a qualifying designated legal or national-ID join: the scoped identities lack an authoritative Chinese registrar mapping; bare ticker overlaps produced no complete annual revenue and net-income statement groups.; The measured China identity-to-filing probe did not produce a qualifying designated legal or national-ID join: the scoped identities lack an authoritative Chinese registrar mapping; bare ticker overlaps produced no complete annual revenue and net-income statement groups.

DIGITAL FOOTPRINT

Web traffic, app reach and release cadence

How the China companies on this page show up online: the sites people visit, the apps they install, and how often those apps ship.

Busiest websites

7 of the 268 companies on this page carry a measured traffic record (2.6%); these are the largest of those, by monthly visits. The median among them is 241,386 visits.

CompanyMonthly visitsAuthorityMobile
Alipayalipay.com21,148,1835334.3%
PayerMaxpayermax.com9,377,2442493.4%
Waffowaffo.com928,5421982.1%
Asiabillasiabill.com241,3862265.2%
Epayepay.com121,6453365.5%
Everoneteveronet.com112,163469.4%
Statrysstatrys.com100,2253620.6%

Visits and authority are third-party web estimates, not company-reported figures.

Most-installed apps

35 of these companies (13.1%) publish at least one Android app — 53 apps in all, carrying 28.4M installs between them.

AppInstallsRatingStore category
AlipayAlipay24.5M2.6Finance
xCurrency - convert & transferxCurrency2.2M3.5Finance
Epay WalletEpay470.1K3.3Finance
Zintego - Invoice MakerZintego307.3K4.6Business
Invoice Maker & TemplateRapidBooks208.9K4.8Business
iboxProIbox146.2K—Finance
PaytendJucaitong Technology122.3K3.2Finance
Cheque WriterEvinco Solutions107.6K3.5Business
XTransferXTransfer104.2K4.5Finance
KPayKPay56.5K3.4Business

Installs are lifetime totals to date at the June 2026 store reading — a measure of reach, not of people using an app today.

App reach by segment

The busiest app inside each of this page’s own segments, with the quarterly release trend behind it (2023Q1–2026Q2).

SegmentAppsInstallsLeading appRelease trend
Payments4425.6MAlipay 24.5M
Digital Remittance52.8MxCurrency - convert & transfer 2.2M
Finance & Accounting Tech8688.5KZintego - Invoice Maker 307.3K
In Store Retail Tech7222.5KiboxPro 146.2K

A company can carry several segment tags, so these rows overlap and should not be added together. Trend lines are zero-based and share one quarter grid, so a flat line is a quiet segment, not a missing one.

Release cadence by quarter

New apps published, beside apps whose most recent update landed in that quarter — the second bar is how much of the shelf is still being maintained.

2022Q4: 12022Q4: 02022Q42023Q1: 22023Q1: 02023Q12024Q1: 12024Q1: 02024Q12024Q2: 12024Q2: 22024Q22024Q3: 22024Q3: 22024Q32024Q4: 12024Q4: 22024Q42025Q1: 12025Q1: 22025Q12025Q3: 12025Q3: 42025Q32025Q4: 12025Q4: 62025Q42026Q1: 22026Q1: 22026Q1

Darker bars are new releases, lighter bars apps updated. 49 of 53 apps carry a release date. The series ends at 2026Q1, the last quarter that closed before the June 2026 reading.

INSIDE THE INDUSTRY

The China payments infrastructure market map

Explore the segments behind the headline numbers.

Expand panel +

Where companies are building

Rank segments by scale, hiring or disclosed funding.

Fintech264
Enterprise tech241
Commerce enablers198
Enterprise software117
Consumer digital45
Saas42
Cfo stack25
Blockchain in financial services19
Blockchain19
Retail pos solutions12
Web 3.07
Cryptocurrency remittance5

Companies can sit in several segments. Counts and funding overlap.

SEGMENT TO EXPLORE

Fintech

The largest measured segment in this report snapshot.

264companies
2.3%have hiring activity

6 companies hiring · $22.7B disclosed funding

Explore in Radar

How companies make money

Common revenue models; a company can use more than one.

Subscription189
Commission on transaction172
E-commerce - service113
Fee-for-service56
E-commerce - product23
Physical commerce18
Advertising8
Lending4
THE COMPANIES IN MOTION

Who is listing, hiring leaders, launching and winning work

Recorded corporate activity linked to companies in this landscape.

Expand panel +
Recent corporate headlines 10 dated reports
Mergers & acquisitionsantgroup.com ↗

Ant Group is set to close its HK$2.81 billion ($358.88 million) acquisition of a controlling stake in Bright Smart Securities & Commodities by the end of the month following the satisfaction of all conditions, the companies said on Monday.

Funding roundswaffo.com ↗

Waffo, a unified global payments and monetisation platform, has secured a total of $30m in funding as it looks to accelerate the expansion of its international payment infrastructure and support digital businesses scaling across borders.

Funding roundsonerway.com ↗

The funding round was led by Yunqi, joined by Lanchi Ventures, Eminence Ventures, and Enlight Growth Partners.

Funding roundsrd.group ↗

ZA Global, a Hong Kong-based digital finance firm, has led a $40 million Series A2 financing round for fintech firm RD Technologies (RD).

Mergers & acquisitionseftsolutions.com ↗

EFT Solutions Limited (Taiwan) (the “Company”), an indirectly wholly-owned subsidiary of the Group, entered into a memorandum of understanding (the “MOU”) with Mr. Hsu Ching-chung, Chairman of Airlink Technology Co., Ltd. (“Airlink Technology”), a payment terminal solutions provider in Taiwan.

Funding roundskpay-group.com ↗

KPay, a financial management and business operations platform, has secured US$55 million in Series A funding.

Mergers & acquisitionsnewlandpayment.com ↗

Newland Payment Technology has announced the expansion of its direct market presence in France and Spain through the acquisition of the payment terminal business of its partner, NewNote, in those countries.

New productsalipay.com ↗

Alipay launched a new AI Pay-powered payment service that enables OpenClaw-type AI agents to make purchases and complete payments based on user instructions.

Earningsyeahka.com ↗

In 2025, the Group's total revenue reached RMB3,310.5 million, representing a year-on-year increase of 7.3%; Driven by growth in transaction volume and revenue, the gross profit margins of both one-stop payment services and value-added services also enhanced.

Company announcementsxtransfer.com ↗

Brandspur Banking News Desk reports that XTransfer has integrated artificial intelligence into its risk and compliance systems, including TradePilot, a proprietary large language model (LLM) tailored for global trade finance.

Full recorded event mix

Top 10 categories among 105 recorded events in the 24-month window.

Company announcements
29
New products
19
Earnings
13
Regulatory
11
Funding rounds
9
IPO activity
5
Mergers & acquisitions
5
Capital infusions
3
Job creation
3
Leadership moves
2
5 activity cards

Swipe or scroll horizontally to browse.

IPO pipeline

1 companies with recorded IPO activity

Ant Group ↗

IPO · Shanghai and Hong Kong16 reports

Leadership moves

1 tracked people moves

Aneel Sabir

Appointment regional sales team for the Middle East

Product launches

Products, platforms and features in the recorded window

Alipay ↗
AI Tipping

developer-facing payment service

Alipay ↗
Payment Integration Skill

developer-facing payment service

Currenxie ↗
cross-border payments account

Financial Account

Ant Group ↗
Ling-2.5-1T

Large language model

Ant Group ↗
Ming-Flash-Omni-2.0

Multimodal model

SUNMI ↗
CPad series

Enterprise tablet line

SUNMI ↗
SUNMI CPAD PAY

Business Tablet

Statrys ↗
Statrys’ Business Account

Business account solution

Contract wins

2 recorded customer wins

Ant Group ↗

Customer: Nike ChinaE-commerce / Technology

Customer: Zand BankFinTech

Regulatory events

15 recorded events

Ant Group ↗

approved for acquisitionHong Kong’s Securities and Futures Commission

Ant Group ↗

pending approvalChina’s National Development and Reform Commission

Ant Group ↗

approved to complete purchaseChinese authorities

XTransfer ↗

conditional approval for key payment licencesBank Negara Malaysia (BNM)

Mergers and acquisitions

Company-linked deal reports; status is preserved as recorded.

Acquirer → targetStatusDateValue / context
Ant Group→Bright Smart Securities & CommoditiesAnnounced2026-03-17Not stated in snapshot
EFT Solutions→airlink technologyAnnounced2025-04-17Not stated in snapshot
Newland Payment Technology→NewNoteAnnounced2024-09-19Not stated in snapshot
Ant Group→Haodf.comRumored2024-08-16Not stated in snapshot
Ant Group→multisafepayPending2024-01-08$200.0M
Ant Group→2c2pCompleted2024-01-07Not stated in snapshot

A discussion or rumour is not a completed transaction. An unstated value is not zero.

PEOPLE & OPPORTUNITY

The talent market

1 postings in the preceding 12 months. The full 3-posting snapshot covers 3 employers.

Expand panel +

Most advertised job titles

No repeated job title is supported by this snapshot.

0 internship postings

0 tracked postings mention remote work.

Skills employers mention

Top skills across 3 tracked postings in the available jobs snapshot.

Infrastructure
2
Vulnerability Management
1
Asset Management
1
Digital Platform
1
Transportation
1
Cards
1
Marketing
1
Material Specifications
1
Online Banking
1
Technical Marketing
1
THE PEOPLE BUILDING THE FIELD

Founders and leaders

121 founders and chief executives across 97 companies.

Expand panel +
12 profiles

Swipe or scroll horizontally to browse.

Education networks

11 profiles with education records.

Tsinghua University
3
University of California (Los Angeles)
2
Shanghai Jiao Tong University
1
National University of Singapore (NUS)
1
University College London
1
Zhejiang University
1
University of Toronto
1
University of Waterloo
1

Prior employers

2 profiles with prior-work records.

Profiles cover recorded founders and leaders; contact details remain in Radar.

NEWS INTELLIGENCE

How this industry appears in the news

975,536 articles in the measured 12-month window.

Expand panel +
975,536articles in the measured year
167,032articles in 2026Q1
49.8%positive tone in the latest complete year

News volume trends

Payments Infrastructure coverage across China · articles per complete quarter

0106,827213,654320,481427,3082021Q2: 120,7472021Q22021Q3: 134,1772021Q4: 115,7642022Q1: 135,6342022Q2: 128,5312022Q22022Q3: 160,3312022Q4: 163,1372023Q1: 174,6522023Q2: 162,1232023Q22023Q3: 180,2222023Q4: 149,5992024Q1: 162,8272024Q2: 174,6032024Q22024Q3: 173,6582024Q4: 197,2402025Q1: 280,6102025Q2: 211,9222025Q22025Q3: 371,5722025Q4: 150,3632026Q1: 167,0322026Q1
View quarterly article counts
QuarterArticles
2021Q2120,747
2021Q3134,177
2021Q4115,764
2022Q1135,634
2022Q2128,531
2022Q3160,331
2022Q4163,137
2023Q1174,652
2023Q2162,123
2023Q3180,222
2023Q4149,599
2024Q1162,827
2024Q2174,603
2024Q3173,658
2024Q4197,240
2025Q1280,610
2025Q2211,922
2025Q3371,572
2025Q4150,363
2026Q1167,032

Article volume measures coverage, not market sales.

Tone of coverage over time

2021
182,165 positive · 37,275 neutral · 176,673 negative
2022
274,277 positive · 60,760 neutral · 252,070 negative
2023
339,319 positive · 71,239 neutral · 255,548 negative
2024
346,379 positive · 104,935 neutral · 256,401 negative
2025
504,887 positive · 163,470 neutral · 345,279 negative

Leading coverage topics

Payments Infrastructure coverage across China · ranked by full-period article count.

Geopolitical Disputes And Contested Areas300,339 articles in the full recorded period
108,130 recent · 81,410 prior
International And Transnational Geographic Entities300,332 articles in the full recorded period
108,128 recent · 81,413 prior
Administrative And Political Subdivisions300,226 articles in the full recorded period
108,092 recent · 81,386 prior
International Political Relations137,882 articles in the full recorded period
31,058 recent · 29,403 prior
Security And Defense Policies88,050 articles in the full recorded period
21,949 recent · 18,334 prior
Trade Policies And Agreements87,292 articles in the full recorded period
31,392 recent · 34,385 prior
International Relations And Diplomacy84,093 articles in the full recorded period
17,786 recent · 17,913 prior
Government International Agreements Coordination60,144 articles in the full recorded period
6,013 recent · 6,695 prior
Trade Wars And Geopolitical Impacts31,571 articles in the full recorded period
8,481 recent · 10,837 prior
Nationalism And Sovereignty Debates31,072 articles in the full recorded period
6,611 recent · 7,008 prior

Recent and prior counts use the source comparison windows.

Topics gaining and losing attention

Payments Infrastructure coverage across China

KeywordRecentPriorChange
countries4,1971,858126%
domestic robots3,5602301448%
toy robots3,5451861806%
sustainable city planning3,355645142%
summit diplomacy1,8391,21052%
sanctions policies1,7771,05668%
export sanctions1,728754129%
stablecoin fx impact1,564704122%
wto rulings1,359462194%
asian games1,294393218%
preferential tariff3,2245,303-39%
economic slowdown2,7134,907-45%
tariff rate quota2,4213,663-34%
mfn tariff1,9853,128-37%
gold futures trends1,7132,895-41%

Event and signal lenses

Payments Infrastructure coverage across China

All complete annual cohorts shown
Rising

Regulatory Risk

1,174,560 classified articles

territories, disputed islands, tariff negotiations

42.0% critical · 16.5% positive
Rising

Funding Momentum

122,932 classified articles

inflation reports fx, currency intervention policies, trade deficits fx

51.1% critical · 39.3% positive
Rising

Growth

384,736 classified articles

gdp growth rate, gdp acceleration, economic output growth

44.5% critical · 39.6% positive

Payments Infrastructure coverage across China. Topic labels describe recorded classifications and can include broad context.

RESEARCH SIGNALS

What Payments Infrastructure research is working on

24,130 papers in the recorded worldwide scope.

Expand panel +
24,130papers
24,130worldwide comparison pool
—India-affiliated papers

Research orientation

Descriptive
7,441
Promising
6,662
Problem-identifying
5,340
Breakthrough
1,922
Cautionary
1,570
Comparative
873
Critical
322

Contribution mix

Empirical
14,345
Methods-led
4,931
Reviews
2,126
Position pieces
2,064
Theoretical
664

Tone counts: 20,970 positive · 1,336 neutral · 1,824 negative.

Common problems researchers identify
5,662 papers · 23.5% of this field
  • Payment3,621 papers
  • Mobile payment1,829 papers
  • Payment system841 papers
  • Financial inclusion529 papers
  • Payment service provider488 papers
  • Mobile device438 papers
  • Financial services430 papers
  • Mobile banking389 papers

Landmark: Beyond Mobile Payments: Exploring the Evolution and Future of Fintech (BY IJISRT)

Cautions
1,570 papers · 6.5% of this field
  • Payment1,050 papers
  • Mobile payment482 papers
  • Financial inclusion287 papers
  • Payment system197 papers
  • Financial services195 papers
  • Database transaction133 papers
  • Mobile banking115 papers
  • Digital currency95 papers

Landmark: Risk Sharing and Transactions Costs: Evidence from Kenya's Mobile Money Revolution

Opportunities
8,584 papers · 35.6% of this field
  • Payment5,460 papers
  • Mobile payment2,950 papers
  • Payment system1,156 papers
  • Database transaction1,015 papers
  • Financial inclusion873 papers
  • Computer security696 papers
  • Financial services662 papers
  • Mobile banking547 papers

Landmark: The long-run poverty and gender impacts of mobile money

Leading institutions

Georgetown University
3,453
Massachusetts Institute of Technology
2,881
National Bureau of Economic Research
2,378
Swansea University
2,164
Universidad de Granada
1,970
Innovations for Poverty Action
1,312

Leading researchers

Tavneet Suri
3,688
William Jack
3,465
Francisco Liébana‐Cabanillas
1,906
Yogesh K. Dwivedi
1,733
Mushtaq Ahmad Shah
1,634
Khomane Harish
1,632
Shradha
1,632
Kutlu Hansda
1,632

Highly cited breakthrough-labelled papers

  • Behavioural intention to adopt mobile wallet: a developing country perspective321 citations
  • An integrated framework for the adoption and continuance intention to use mobile payment apps289 citations
  • Bitcoin meets strong consistency224 citations
  • Monopoly without a Monopolist: An Economic Analysis of the Bitcoin Payment System223 citations
  • Mobile payments adoption – introducing mindfulness to better understand consumer behavior213 citations

Common problems researchers identify

5,077 papers · 7 recurring themes
7 cards

Swipe or scroll horizontally to browse.

Core Payment System ChallengesCommon problems researchers identify · 01

Core Payment System Challenges

1,178 papers

23.2% of this theme group

Researchers discuss fundamental issues in payment settlement, service provider reliability, and system architecture.

Payment system (621) · Payment (1,132) · Payment service provider (245) · Settlement (113)

New payment systems

Payment system technologies and functions : innovations and developments

View research history
YearShare index
202253.1
202352.6
202446.4
202578.4
Mobile Payment Security ConcernsCommon problems researchers identify · 02

Mobile Payment Security Concerns

949 papers

18.7% of this theme group

Studies highlight privacy risks, authentication weaknesses, and user acceptance barriers in mobile transactions.

Mobile payment (899) · Payment (794) · Computer security (114) · Internet privacy (81)

User Acceptance Testing of Mobile Payment in Various Scenarios

Exploring Determinants Influencing the Intention to Use Mobile Payment Service

View research history
YearShare index
20221082.6
20231033.1
2024693.1
2025299.1
Cryptocurrency and Digital Currency RisksCommon problems researchers identify · 03

Cryptocurrency and Digital Currency Risks

816 papers

16.1% of this theme group

Papers examine regulatory uncertainty, security vulnerabilities, and integration hurdles of crypto‑based payments.

Cryptocurrency (161) · Payment (716) · Digital currency (151) · Currency (136)

Digital Payments: Blockchain based Security Concerns and Future

Demystifying Electronic Payment Systems and Digital Currencies

View research history
YearShare index
2022429.6
2023435.5
2024348.9
2025379.2
Mobile Computing LimitationsCommon problems researchers identify · 04

Mobile Computing Limitations

700 papers

13.8% of this theme group

Research points to device constraints, connectivity issues, and development obstacles for mobile business applications.

Mobile technology (236) · Mobile device (274) · Mobile computing (199) · Mobile business development (183)

Mobile Learning

Mobile application challenges

View research history
YearShare index
2022262.9
2023237.0
2024221.5
2025260.1
Mobile Banking Adoption BarriersCommon problems researchers identify · 05

Mobile Banking Adoption Barriers

600 papers

11.8% of this theme group

Analyses focus on legal, infrastructural, and user‑experience challenges limiting mobile banking uptake.

Mobile banking (283) · Mobile payment (438) · SMS banking (57) · Financial services (113)

THE POTENTIAL INNOVATIVE STRATEGIES OF USING MOBILE MONEY SYSTEMS FOR ENHANCING FINANCIAL INCLUSION IN TANZANIA

Assessment of Legal and Practical Challenges Affecting Mobile Banking: Case Study of Tanzania

View research history
YearShare index
202299.7
2023112.1
202487.0
2025130.1
Financial Inclusion ObstaclesCommon problems researchers identify · 06

Financial Inclusion Obstacles

425 papers

8.4% of this theme group

Works identify gaps in access, technology reach, and policy support for underserved populations.

Financial inclusion (337) · Financial services (212) · Inclusion (52) · FinTech (66)

Financial Inclusiveness : The role of mobile money and digital financial services.

The Future Is Mobile: Financial Inclusion and Technological Innovation in the Emerging World

View research history
YearShare index
202289.7
2023103.9
202488.3
2025146.8
Healthcare Payment Reform IssuesCommon problems researchers identify · 07

Healthcare Payment Reform Issues

409 papers

8.1% of this theme group

Studies critique reimbursement models, incentive misalignments, and implementation complexities in health services.

Health care (147) · Reimbursement (71) · Payment (389) · Incentive (78)

Using Physician Payment Reform to Enhance Health System Performance

Challenges and suggestions on reform of provider payment system of medical services

View research history
YearShare index
2022294.9
2023284.7
2024201.5
2025244.0

Cautions

1,356 papers · 7 recurring themes
7 cards

Swipe or scroll horizontally to browse.

Trust and Risk in Mobile PaymentsCautions · 01

Trust and Risk in Mobile Payments

275 papers

20.3% of this theme group

Authors caution that consumer trust, perceived risk, and usability critically affect mobile payment success.

Mobile payment (175) · Mobile device (37) · Mobile technology (22) · Payment (134)

A mixed methods empirical exploration of UK consumer perceptions of trust, risk and usefulness of mobile payments

An Exploration of the Factors Affecting User's Satisfaction with Mobile Payments

View research history
YearShare index
2022230.9
2023207.2
2024178.2
2025224.6
Systemic Liquidity and Settlement RisksCautions · 02

Systemic Liquidity and Settlement Risks

220 papers

16.2% of this theme group

Research warns of liquidity strains and contagion effects within large‑value payment infrastructures.

Market liquidity (52) · Payment (203) · Settlement (46) · Payment system (80)

Systemic risk and liquidity in payment systems

Quantifying the Economic Benefits of Payments Modernization: the Case of the Large-Value Payment System

View research history
YearShare index
202283.9
202382.1
202456.9
202583.2
Consumer Spending Impact of Digital PaymentsCautions · 03

Consumer Spending Impact of Digital Payments

218 papers

16.1% of this theme group

Papers explore how digital payment adoption reshapes purchasing behavior and potential overspending.

Payment (204) · Database transaction (60) · Cash (40) · Mobile payment (62)

Impact Of Digital Payment Systems On Consumer Spending Habits

“ <b>Impact of Digital Payment Systems on Consumer Spending Behaviour”</b>

View research history
YearShare index
2022358.8
2023328.6
2024226.5
2025303.0
Regulatory Gaps for Financial InclusionCautions · 04

Regulatory Gaps for Financial Inclusion

194 papers

14.3% of this theme group

Analyses highlight insufficient policy frameworks hindering mobile money’s role in inclusive finance.

Financial inclusion (176) · Financial services (102) · Inclusion (32) · Mobile payment (106)

Mobile Money for Financial Inclusion

A Systematic Review of Mobile Banking, Fintech Innovations, and Regulatory Gaps to Achieve Financial Inclusion in the Philippines

View research history
YearShare index
202289.7
2023103.9
202488.3
2025146.8
Mobile Money in Anti‑Poverty ProgramsCautions · 05

Mobile Money in Anti‑Poverty Programs

177 papers

13.1% of this theme group

Studies assess effectiveness and unintended consequences of mobile cash transfers in low‑income settings.

Mobile payment (98) · Tanzania (13) · Payment (76) · Monetary economics (11)

Payment Mechanisms and Antipoverty Programs: Evidence from a Mobile Money Cash Transfer Experiment in Niger

Factors influencing consumers’ adoption of mobile financial services in Tanzania

View research history
YearShare index
2022236.4
2023239.1
2024145.0
202572.6
Provider Response to New Payment ModelsCautions · 06

Provider Response to New Payment Models

152 papers

11.2% of this theme group

Research reveals how hospitals and physicians adapt—or resist—prospective payment reforms.

Reimbursement (36) · Health care (41) · Prospective payment system (33) · Payment (148)

Impacts of Diagnosis-Related Groups Payment on the Healthcare Providers’ Behavior in China: A Cross-Sectional Study Among Physicians

Hospital response to a new case-based payment system in China: the patient selection effect

View research history
YearShare index
2022219.2
2023212.4
2024161.8
2025191.0
Emerging Digital Currency UncertaintiesCautions · 07

Emerging Digital Currency Uncertainties

120 papers

8.8% of this theme group

Works discuss central bank digital currency implications and the unsettled role of crypto in payments.

Digital currency (76) · Cryptocurrency (53) · Currency (47) · Payment (104)

Central Bank Digital Currencies and payments: A review of domestic and international implications

Cryptocurrencies, Big Techs, central bank digital currencies and the changing role of banks in the payment industry: old wine in new bottles

View research history
YearShare index
2022429.6
2023435.5
2024348.9
2025379.2

Opportunities

7,530 papers · 7 recurring themes
7 cards

Swipe or scroll horizontally to browse.

Advances in Payment System DesignOpportunities · 01

Advances in Payment System Design

1,328 papers

22.1% of this theme group

Papers propose novel architectures and information‑system integrations to enhance payment efficiency.

Payment (1,268) · Payment system (591) · Health care (67) · Information system (64)

Measuring payment system development

Design and Research of Virtual Payment System in Colleges and Universities

View research history
YearShare index
2022316.1
2023298.5
2024240.2
2025290.6
Mobile Money Expansion in Developing MarketsOpportunities · 02

Mobile Money Expansion in Developing Markets

1,014 papers

16.9% of this theme group

Research showcases growth drivers and feature innovations enabling cell‑phone banking across emerging economies.

Mobile payment (513) · Mobile business development (112) · Mobile technology (125) · Mobile device (201)

Mobile Money: Cell Phone Banking in Developing Countries

An Analysis of Features and Tendencies in Mobile Banking Apps

View research history
YearShare index
2022231.0
2023207.8
2024178.6
2025225.0
Behavioral Models for Payment AdoptionOpportunities · 03

Behavioral Models for Payment Adoption

861 papers

14.3% of this theme group

Studies apply acceptance theories and structural models to predict user uptake of mobile payments.

Mobile payment (685) · Technology acceptance model (159) · Payment (631) · Structural equation modeling (137)

Enjoyment and social influence: predicting mobile payment adoption

Mobile payment adoption: a multi-theory model, multi-method approach and multi-country study

View research history
YearShare index
2022220.6
2023234.8
2024140.6
2025192.9
Blockchain‑Based Payment SolutionsOpportunities · 04

Blockchain‑Based Payment Solutions

809 papers

13.5% of this theme group

Works explore distributed ledger designs that promise secure, transparent, and decentralized transaction processing.

Blockchain (158) · Payment (724) · Cryptocurrency (127) · Database transaction (284)

Blockchain Based Architecture and Solution for Secure Digital Payment System

Towards a distributed token based payment system using blockchain technology

View research history
YearShare index
2022289.6
2023277.6
2024184.8
2025245.4
Financial Literacy and Digital PaymentsOpportunities · 05

Financial Literacy and Digital Payments

793 papers

13.2% of this theme group

Research links improved financial knowledge to higher adoption rates and better performance for small enterprises.

Payment (682) · Database transaction (140) · Financial literacy (58) · Payment system (150)

Pengaruh Financial Knowledge, Perceived Ease of Use Serta Peran E-Commerce Terhadap Minat UMKM dalam Menggunakan Aplikasi Digital Payment

The Influence of Digital Financial Literacy on Digital Payment Adoption and Its Impact on the Financial Performance of MSMEs

View research history
YearShare index
2022173.7
2023174.3
2024111.7
2025204.7
Secure Mobile Payment TechnologiesOpportunities · 06

Secure Mobile Payment Technologies

663 papers

11.1% of this theme group

Papers present authentication and NFC innovations aimed at strengthening mobile transaction security.

Computer security (347) · Mobile payment (431) · Authentication (120) · Near field communication (82)

A secure mobile electronic payment architecture platform for wireless mobile networks

Secure remote mobile payment architecture and application

View research history
YearShare index
2022854.0
2023823.1
2024531.0
2025226.5
FinTech for Inclusive Financial ServicesOpportunities · 07

FinTech for Inclusive Financial Services

532 papers

8.9% of this theme group

Studies evaluate how fintech platforms expand access to banking and credit for underserved groups.

Financial inclusion (479) · Financial services (297) · Inclusion (85) · FinTech (107)

Mobile banking for financial inclusion in a developing economy

Fintech and Financial Inclusion: Evaluating the Impact of Mobile Banking on SME Growth in Sub-Saharan Africa

View research history
YearShare index
202289.7
2023103.9
202488.3
2025146.8

How this field compares with the research baseline

Orientation shares compared with 25,000 papers in the reference sample.

Research orientationThis fieldReference sample
Descriptive30.8%17.4%
Promising27.6%37.3%
Problem-identifying22.1%9.7%
Breakthrough8.0%26.6%
Cautionary6.5%4.3%
Comparative3.6%3.9%
Critical1.3%0.9%

Concerns receiving less research attention

Counts and shares refer to the stated research pool. A low count describes how much of that research is recorded here, not the absence of a real-world concern.

Concern / example paperPapersShareRaised as a problemWorldwide share
Privacy & surveillanceIncentives for Mobile Crowd Sensing: A Survey2,12310.02%672 (31.7%)10.02%
Labour & data workMobile Money Taxation and Informal Workers: Evidence from Ghana’s E-Levy470.22%23 (48.9%)0.22%
Concentration of compute powerThe Economic Fallout of Exclusion of the Islamic Republic of Iran from the SWIFT International Payment Network410.19%23 (56.1%)0.19%
Safety & misuseWhispers of Wealth: Red-Teaming Google's Agent Payments Protocol via Prompt Injection80.04%4 (50.0%)0.04%
Bias & fairnessThe Impact of Mobile Data Cost on Consumer Price Sensitivity: A Study of a Hotel Booking App70.03%2 (28.6%)0.03%
Energy & datacenter footprintThe nexus between fintech and green finance in advancing sustainable performance across countries30.01%0 (0.0%)0.01%
Hardware, e-waste & supply chainA REVIEW ON MOBILE ELECTRONIC WASTE RECYCLING AMONG MALAYSIAN USERS30.01%1 (33.3%)0.01%
Water use00.0%0 (%)0.0%
Carbon & emissions of compute00.0%0 (%)0.0%

Institution and researcher rankings use citations to their covered work. Research scope: worldwide. This may be broader than the company geography.

GEOGRAPHIC FOOTPRINT

Where companies are based

Company counts, hiring and disclosed funding across the recorded hubs.

Expand panel +
8 cards

Swipe or scroll horizontally to browse.

UNDERSTAND THE LANDSCAPE

Payments Infrastructure in China: key questions

Clear definitions for making better comparisons.

What does this landscape measure?

It measures the tracked company ecosystem, recorded funding, hiring and other available evidence. It is not a market-size estimate.

Can segment counts be added together?

No. A company can belong to several segments, so segment counts and funding can overlap.

What does a missing figure mean?

A dash or unavailable panel means the current reviewed source snapshot does not support that figure.

KEEP EXPLORING

Put China in context

All landscapes ↗

Company ecosystem snapshot: 4 September 2026. Funding is recorded in USD; filed accounts retain their stated currency and reporting basis. Each section identifies its own coverage. The news and research behind these sections is explorable in Prism.

Canonical landscape ↗
Coming soon