Analysis of influencing factors of online payment in China

Abstract

E-commerce is a revolution in the history of human development. It has completely changed traditional business models and strategies with a new type of information technology and digital means. With the rapid development of information technology and network technology, e-commerce has made great progress in recent years, and has gradually penetrated into all aspects of social and economic life. Online payment is an important part of e-commerce. Without the use of online payment, e-commerce will not develop as it does today. This paper revolves around four research questions, which are What are the advantages and disadvantages of online payment like Alipay and WeChat pay? What factors play a crucial role in the success of online payments like Alipay and WeChat pay in China? What impact does online payment like Alipay and WeChat pay have on the daily lives of the Chinese people? What are the current problems with online payment like Alipay and WeChat pay in China and how should we improve? Based on the data from the report of the China Internet Network Information Center (CNNIC), I made three hypotheses. Moreover, in the part of analysis and finding, this paper launched an analysis of the influencing factors of online payments and finally came up with a model.