2020聚合支付行业市场发展趋势分析，聚合支付行业政策相继出台前景可观

2019年聚合支付市场交易规模预计达8.8万亿，同比增速59.8%，实现近半数商户覆盖。聚合支付作为消费者、商家、电子钱包之前的桥梁，进一步拉平了各电子钱包受理范围，成为助力支付行业实现互联互通的重要力量。过去一年聚合支付交易规模约占线下扫码支付总规模的25.9%，随着聚合支付服务不断下沉，这一比例将逐渐提升。从商户渗透率角度而言，聚合支付商户覆盖数从2016年到2019年增长超过了18倍，达到2307万家，实现了46.1%的商户渗透。

聚合支付也称“融合支付”，是指只从事“支付、结算、清算”服务之外的“支付服务”，依托银行、非银机构或清算组织，借助银行、非银机构或清算组织的支付通道与清结                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             算能力，利用自身的技术与服务集成能力，将一个以上的银行、非银机构或清算组织的支付服务，整合到一起，为商户提供包括但不限于“支付通道服务”、“集合对账服务”、“技术对接服务”、“差错处理服务”、“金融服务引导”、“会员账户服务”、“作业流程软件服务”、“运行维护服务”、“终端提供与维护”等服务内容。近年来我国政府针对聚合支付行业相关政策法规频发，行业监管力度有多加强。聚合支付行业主要盈利模式为广告收入、金融衍生服务、其他服务和交易服务返佣。我国聚合支付行业交易规模总体呈逐年增长态势，年均复合增速高达231%，2019年行业交易规模近40万亿元，第三方移动支付交易规模近239万亿元。2019年聚合支付行业投融资事件为5起，投融资金额达3.23亿元。

近年来我国政府针对聚合支付行业相关政策法规频发，行业监管力度有多加强。

资料来源：锐观咨询整理

目前聚合支付行业主要盈利模式为广告收入、金融衍生服务、其他服务和交易服务返佣。其中广告收入是目前企业营收份额增长最快的部分。通过不断积累的B端和C端消数据，精准投放广告，增加企业广告收入。

资料来源：锐观咨询整理

据IT桔子数据，2019年聚合支付行业投融资事件为5起，投融资金额达3.23亿元。截至2020年5月行业投融资事件为4起，投融资金额达1.53亿元。具体投融资事件详见下表：

图表：2019-2020年聚合支付行业重要投融资情况

资料来源：锐观咨询整理