The Impact of Mobile Payments on China's Economy

Abstract

The rapid development of modern science and information technology has let China change a lot, exerting a great impact on people’s daily life. The combination of the modern science and information technology has led to a new way of payment: mobile payment. Mobile payment has consciously or unconsciously influenced our daily life and the development of China. In this paper, the advantages and disadvantages of mobile payment will be analyzed briefly so as to predict the developing trend of China’s mobile payment industry.