The impact of digital payment on China: compared to the United States

Abstract

Since 2010, with the prevalence of digital payment in china, the internet giants represented by Alipay and WeChat payment have occupied a large number of mobile payment market shares. The digital age has brought great changes in every aspect of Chinese people’s life. Actually, the digital payment started earlier in America market, the online payment system represented by PayPal influenced American people’s lives for many years. However, digital payment showed different development tendencies and growth rates the among two countries. The research focuses on the changes in the Chinese economy after the rise of digital payment and compares the situation in America. The data used in the study include Chinese and American economic index, consumption pattern, frequency of digital payment and so on, which were selected from the academic journal and the official statistical bureau. The study used the technology acceptance model and consumer behavior theory as the theoretical basis. The research results can provide a border perspective of digital payment development in China and America.