Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅰ
Series Vol. 3 , 21 March 2023
Open
Access | Article
A Sino-US case study of the mobile payment fintech companies
* Author to whom correspondence should be addressed.
Abstract
The popularity of smartphones and mobile networks has led modern people to live in an era of electronic payments and a cashless society. Big tech giants use capital and technology strength in constant penetrating of the financial industry, trying to preempt a first move in mobile finance. By constructing a comparative analysis, this paper attempts to dive into the strategies of recent mobile payment business players both in China and the USA, the newcomers and evolving trend of the competition, key factors that underpin the success of client loyalty, and future competitive advantage and limitations in an economy with multivariate currency media available. The paper concludes that in an economic environment where state-backed and privately issued digital currencies coexist, and the metaverse concept emerges, tech companies should lay out new business forms of mobile payment and seek new roles as a medium that embraces all three types of currencies and continue to benefit the digital economy and society. It is rational to expect that tech tycoons can embrace challenges in the mobile payment marketplace and are ready to thrive in the newly derived metaverse market.
Keywords
cryptocurrency, NFC, CBDC, mobile payment
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅰ
- ISBN (Print)
- 978-1-915371-15-7
- ISBN (Online)
- 978-1-915371-16-4
- Published Date
- 21 March 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/3/2022769
- Copyright
- © 2023 The Author(s)
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited