Comparative Analysis of the Development of China’s Payment By Phone Number and Zelle in the United States

Chengcheng He ()
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Chengcheng He: Hangzhou Yuquan Branch of China CITIC Bank

A chapter in Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024), 2024, pp 82-88 from Springer

Abstract: Abstract This article introduces the background, development status, advantages, and performance of China’s payment by phone number service and Zelle payment tool in the United States, and points out the problems and disadvantages of both. Then analyze the similarities and differences between the two in terms of development models and market size, cross-border payments, security, and privacy protection, and seek inspiration from them. Finally, suggestions were proposed to strengthen partnerships, enhance user experience, and enhance security protection, Intended to provide experience and reference for payment service providers in other countries and relevant industries.

Keywords: China payment by phone number; Zelle; Digital Payment Tool; Development Model (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-408-2_10

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DOI: 10.2991/978-94-6463-408-2_10

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