People prefer to carry a smartphone which is more convenient than physical credit or debit cards in daily life, and mobile payment is the next step for the business world. This paper introduces several payment methods, such as mobile payment, NFC payment, QR-Code payment, and online banking. The paper researches how such payment methods change the trade and finance field, and their advantages and disadvantages. It describes the influences on the different market players. The study also investigates security, user experience, and business experience of mobile payment, to illustrate how the mobile payment replaces traditional payment methods. Finally, the best payment method should combine each of the benefits. Traditional payment methods cannot keep the pace of high-speed fund transactions. Mobile payment has significantly improved people’s payment experience, and it provides new opportunities to promote the develop online shopping, financial institutions, and third-party payment. New developments like E-cash will introduce even more change.

Exit Requirement

Professional Project

Date of Award


Degree Name

Master of Science in Management and Information Systems

Committee Chair

David Olson

Committee Member

Scot Morse

Committee Member

Tom Burrell


mobile payment, smartphone, QR-Code, NFC, online banking



Type (DCMI Terms)

Text; Image; StillImage

Subject Categories

Management Information Systems

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