The silent invasion of mobile payments: the different spread, impact and importance of digital payments in China and Italy

Abstract

This work aims at analysing the different spread, impact and importance that digital payments have in two specific areas: China and Italy. Starting from an overview of the historical evolution of money and the description of payment systems, the first chapter underlines how digital payments are playing a crucial role in the countries’ economic and financial environments. Nevertheless, they are developed and perceived by countries in different ways. In the second chapter, after an explanation of the evolution of the Chinese financial sector, I will investigate the development of electronic payments, from card payments to mobile payment services. In the third chapter, then, I will consider the Italian context, offering an overview of cards and mobile payments. In conclusion, as China’s mobile payment services continue to grow both domestically and globally, I will examine the spread and influence that these services have abroad, specifically in Italy. I have conducted a field survey considering an area in which Chinese presence is high and impactful in Italy, i.e. the high fashion context.