Its amazing how much of a divide there is between the dominant players in the east and in the west, I had no idea it was even remotely close to that figure.
Yup huge only player In the market. As well as more embraced in its market. Super hard to be an outside player there so most western news doesn't cover it. I work in gaming and it's virtually impossible for us to play in that market, but the numbers that leak out are astounding.
Even with the smaller percentage middle class, the numbers are staggering, and I've seen estimates that place it above the US and Western Europe. It does show you how much further ahead China is then India.
And alipay's Chinese rival, tencent, which has less than half the market share of alipay, is still bigger than PayPal!
tencent owns the internet in China. And are strategically buying up ip in the rest of the world. Both those companies are very well run, and publicly traded.