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Mobile Payments And Emerging Technologies

Author

Listed:
  • Claudiu CHIRIAC

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

  • Gheorghe HURDUZEU

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

  • Andreea-Alexandra CHIRIAC (ROSCA)

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

  • Ioana-Coralia ZAVERA

    (The Bucharest University of Economic Studies, Faculty of International Business and Economics, 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 clearer that companies will invest piles of money in order to process the payments of the millions of potential users. With the banking industry shaken by the different modifications of rules and regulations and consumers addicted to the 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 emerging technologies. The most important piece in the puzzle – end-user – has to keep up with all the novelties in this sector and, as consequence, some behavioural patterns occur. With the appearance in the landscape of emerging technologies like 5G, augmented reality, virtual reality, blockchain etc. new waves are expected to redefine mobile payments. 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 Emerging Technologies," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 129-139, December.
    • Handle: RePEc:ora:journl:v:1:y:2018:i:2:p:129-139
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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.
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    More about this item

    Keywords

    payments; augmented reality; virtual reality; 5G;
    All these keywords.

    JEL classification:

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

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