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Mobile Payments And Major Shifts In Consumer Behaviour

Author

Listed:
  • Claudiu Chiriac

    (Faculty of International Business and Economics, The Bucharest University of Economic Studies, Bucharest, Romania)

  • Gheorghe Hurduzeu

    (Faculty of International Business and Economics, The Bucharest University of Economic Studies, Bucharest, Romania)

  • Andreea-Alexandra Chiriac (Rosca)

    (Faculty of Marketing, The Bucharest University of Economic Studies, Bucharest, Romania)

  • Ioana-Coralia Zavera

    (Faculty of International Business and Economics, The Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

Considering the fact that in China, in 2016 solely, the mobile payment volume was around $5 trillion – half of its gross domestic product, carried out through two main competitors – Alipay and Wechat Pay, it is becoming more and more clearer that companies will invest piles of money in order to process the payments of the millions of potential users. With banking industry shaken by the different modifications of rules and regulations and consumers addicted to latest gadgets, the tech companies may have the pole position in this race. Apple is charging each Apple Pay user with 0.15% per transaction which may not seem a lot, but taking into account that in 2015 iPhone users traded over $10.9 billion we can see why tech companies are eager to develop payment applications. In this paper are presented briefly the newest means of payment and how are those influenced or not by the mainstream legislation. The most important piece in the gear – end-user – has to keep up with all the novelties in this sector and, as consequence, some behavioral patterns occur. Those are presented further in the text altogether with some trends in financial services that may influence the mobile payments market as we know it.

Suggested Citation

  • Claudiu Chiriac & Gheorghe Hurduzeu & Andreea-Alexandra Chiriac (Rosca) & Ioana-Coralia Zavera, 2018. "Mobile Payments And Major Shifts In Consumer Behaviour," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 3(1), pages 76-83, March.
  • Handle: RePEc:ora:jrojbe:v:3:y:2018:i:1:p:76-83
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    References listed on IDEAS

    as
    1. Octavian Dospinescu, 2012. "E-Wallet. A New Technical Approach," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 5(5), pages 84-94, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    payments; biometric; portal; web rooming;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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