China Mobile Payment Volume = +209% vs. +116% Y/Y Led by Alipay + WeChat Pay China Mobile Payment Volume China Mobile Payment Share* $16T Others a 8% n i h C $12T me, u l o V t $8T WeChat men Pay AliPay 38% 54% Pay e l i b o $4T M $0 2012 2013 2014 2015 2016 2017 Source: Analysys (Q1:18, 3/18). *Excludes certain P2P and 259 transfer payments. Assumes constant USD / RMB rate = 6.9.