Analysis on the Impact of Mobile Payment on Consumer Behavior

With the increasing popularity of smart phone application services, mobile payment has also developed rapidly as a new type of payment service. Residents 'consumption payment methods are changing from traditional cash payments to mobile payments, and mobile payments have had a profound impact on residents' consumption behavior. The article studies the impact of mobile payment on the behavioral economy of Chinese residents from a theoretical mechanism. Research shows that mobile payment has a high usage rate in all age groups, and it plays an important role in stimulating residents’ consumption to a certain extent. Besides, it is showed that the small amount of credit loans provided by mobile payments can make people consume irrationally. At last, the paper suggested that the some of people in group aged 1824 have advanced consumption, and even need to repays the credit fees by borrowing money from credit loans provided by other mobile payment platforms. This paper suggests that they should maintain rational consumption and not excessive consumption.