Apple inc officially launched its mobile payment system Apple Pay in China on Thursday. Despite a dazzling performance of over 30 million users on its first-day debut, analysts believe that it cannot shake the current pattern of the Chinese mobile payment market in short term, Shanghai Securities News reported Friday.

With the launch of Apple Pay in China, users of the 19 participating banks, including China Construction Bank and Bank of China, will be able to use Apple Pay through UnionPay’s point-of-sales network across the country.

Data showed that during the first-day debut, it attracted over 30 million users, a sparkling performance in the eyes of regulators. The 19 lenders and UnionPay also helped publicise the payment system with promotion campaigns.

As the fifth country in the world to get the Apple Pay service, China has been regarded as a huge market in mobile payment service.

Data from China’s central bank showed that in the first three quarters of 2015, total trading volume through third-party payment platforms totaled 84.76 trillion yuan, increasing 466 percent year-on-year.

But China’s online payment market is dominated by third-party payment tech giants Alibaba's system Alipay and Tencent Holdings Ltd.’s Tenpay, together controlling nearly 70 percent market share.

According to analysts, joining up with Apple Pay will help UnionPay and the banks win back market share of mobile payments from their rivals such as Alipay and Tenpay.

Apple Pay will also benefit Chinese customers by providing more choice. Compared with Alipay and Tenpay, Apple Pay offers them more convenience when making payments while abroad.

In addition, since Apple Pay can allow Apple devices to wirelessly communicate with point of sale systems using a near field communication (NFC) antenna, Apple Pay can work with existing terminals. So UnionPay’s terminals can help it expand coverage.

Data showed that UnionPay and China’s commercial banks now have about 4 million NFC-ready point-of-sale terminals.

An insider from the regulation department also believed that cooperation of Apply Pay, UnionPay and banks will pose challenges to Tecent and Alibaba.

But industry insiders also held that Apply Pay cannot shake China’s market pattern in the short term.

At present, some merchants like KFC, McDonald’s, Pacific Coffee, 7-Eleven are already accepting Apple Pay, but an insider from a third-party payment firm believed that it still has a long way to go to expand its coverage, adding that at present it only has 19 bank partners.

Another analyst added that both Alipay and Tenpay have huge user bases. Insiders disclosed that the Alipay’s real name-registered users now amount to 400 million, far more than the users of Apple Pay on its first-day debut.

Zhang Shuai, an analyst at Sinolink Securities, said that Apple Pay will be a sharp weapon for UnionPay to compete with Alipay and Tenpay in the long run, but in the short term, its significance lies more in accelerating the development of online payments market rather than changing the market structure.

Most customers now have been accustomed to Alipay and Tenpay, he added.

Wang Jian, an analyst at Orient Securities also held that Apple Pay’s business portfolio like coupons, cash back and virtual red-envelopes has not taken shape completely.

Alipay and Tenpay, the two giants being regarded to bear pressure, have not launched any response measures yet.