Finance Webinar（2021-26）

Topic: Technology Adoption and Leapfrogging: Racing for Mobile Payments

Speaker: Pengfei Han, Peking University

Time: Friday, June 11, 12:00–1:00 PM, Beijing Time

Location: Room K01, Guanghua Building 2

Abstract:

Paying with a mobile phone is a cutting-edge innovation transforming the global payments industry. However, some advanced economies like the U.S. are lagging behind in mobile payment adoption. We construct a dynamic model with sequential payment innovations to explain this puzzle, which uncovers how advanced economies’ past success in adopting card-payment technology holds them back in the mobile-payment race. Our calibrated model matches the cross-country adoption patterns of card and mobile payments and also explains why advanced and developing countries favor different mobile payment solutions. Based on the model, we conduct quantitative analyses to identify the winners and losers in the mobile payment race and evaluate the welfare consequences of government intervention to boost mobile payment adoption.

The paper is available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3818168

Website: https://sites.google.com/view/pengfeihan/home

Your participation is warmly welcomed!