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Understanding E-Payment Services in Traditionally Cash-Based Economies: The Case of China

Understanding E-Payment Services in Traditionally Cash-Based Economies: The Case of China
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Author(s): Xiaolin Li (Towson University, USA), Dong-Qing Yao (Towson University, USA)and Yanhua Liu (Wuhan College of Economics and Management, China)
Copyright: 2010
Pages: 7
Source title: Encyclopedia of E-Business Development and Management in the Global Economy
Source Author(s)/Editor(s): In Lee (Western Illinois University, USA)
DOI: 10.4018/978-1-61520-611-7.ch050

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Abstract

Electronic payment or e-payment refers to any payment transactions conducted electronically. In narrow terms, it usually refers only to online payment. E-payment is a crucial part of e-commerce. It increases transaction speed, improves merchants’ liquidity, and enhances buyers’ online shopping satisfaction. E-payment also reduces transport costs, robbery, and counterfeiting of fiat cash (Panurach, 1996). However, e-payment development in emerging economies—most of which rely heavily on cash for e-commerce transactions—has not kept up with advances in e-commerce. As a result, inefficient payment methods have become a bottleneck of further e-commerce growth.

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