HOW DO ECONOMIC FLUCTUATION AND TECHNICAL INNOVATION AFFECT MOBILE PAYMENT ADOPTION IN CHINA AND THE UNITED STATES

This paper reviews the adoption gap between mobile point-of-sale (POS) in China and the United States and explores the relationship between economic fluctuations, technical innovation, and mobile payment adoption. We conduct empirical analysis from two distinct perspectives: the industrial and macroeconomic. Using panel data collected from reliable sources such as the United Nations, International Monetary Fund, and audited annual financial reports, we investigate two sets of correlations between: mobile point-of- sale payment adoption and a country's macroeconomic, and mobile point-of-sale payment adoption performance and technical progress. Our regression models and robustness test models reveal that the performance of capital markets and the operating proficiency of mobile payment companies have significant impacts on the mobile point-of-sale payment industry's performance in the sample countries. Furthermore, our findings show a statistical significance between mobile point-of-sale payment adoption among the sample countries' populations and their GDP.