A Hangzhou Story: The Development of China's Mobile Payment Revolution

Abstract

China’s mobile payment revolution has attracted the attention of the rest of the world. But few studies have taken a holistic approach to understanding the phenomenon and discussing the potentials of mobile payment beyond just making final payment in the consumer market. This case study examines how China is staying ahead of the mobile payment game, particularly how Alipay has become the dominant player in the field. This case also presents Hangzhou’s experience as the pioneer in realising the digitalisation of resident’s daily activities through mobile payment technology in China. Moreover, this case study also provides a thorough discussion of the drawbacks of a cashless society as well as key takeaways for learning.