The Mobile Payment Application Acceptance Model of China: on the Basis of S-O-R Theory

Abstract

With the rapid increase in the scale of mobile terminal equipment, the continuous expansion of mobile data traffic and the growth of Chinese residents' consumer demand, these factors have promoted the development of China's mobile e-commerce. Payment methods are a key component of mobile e-commerce, while traditional paper money transactions show increasingly prominent shortcomings in mobile electronic payments. In such a context, mobile payment emerged naturally. Mobile payment is convenient, fast and cashless. Mobile payment has changed the payment habits of Chinese paper currency transactions. Especially during the period from 2020 to 2022, the outbreak of the COVID-19 has promoted cashless mobile payment to become the preferred payment method of the Chinese people. Among the Chinese mobile payment market, there are many kinds of mobile payment apps. For example, the People's Bank of China is testing a digital RMB application. In April 2022, Huawei Pay officially started operation. In addition, China has introduced a highly standardized system for mobile payments. With the increasing number of mobile payment applications and the introduction of a high standardization system for mobile payment, the competition in China's mobile payment market is increasingly fierce. Under the premise of complying with China's mobile payment standardization system, how can China's mobile payment operators retain and expand users in the fierce payment market? How do China's mobile payment operators survive and develop in the fiercely competitive environment? These are the issues that China's mobile payment operators focus on. Therefore, it is a very meaningful topic to study the influencing factors of China's mobile payment APP users' willingness to use.