Open Access Journal Article

Impact of third-party online payment systems on trade, export, import, and internet retailing

by Isaac Appiah-Otoo a,* ,  Xudong Chen a ,  Na Song b  and  Camara Kwasi Obeng c
a
College of Management Science, Chengdu University of Technology, Chengdu, China
b
School of Management and Economics, University of Electronic Science and Technology of China, Chengdu, China
c
Department of Economic Studies, School of Economics, University of Cape Coast, Cape Coast, Ghana
*
Author to whom correspondence should be addressed.
JIE  2023, 14; 1(3), 14; https://doi.org/10.58567/jie01030003
Received: 4 August 2023 / Accepted: 4 October 2023 / Published Online: 11 October 2023
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Abstract

This study estimates the impact of third-party online payment systems on trade, export, import, and Internet retailing in China. Also, the study examines the financial development mechanism via which third-party payment affects trade, export, import, and Internet retailing in China. By employing a sample of 31 provinces in China covering 2011 to 2018, the findings indicate that, third-party payment drives China’s trade (0.43%), export (0.42%), import (0.47%), and Internet retailing (0.24%). The study also finds that third-party payment complements financial development to positively affect trade, export, import, and Internet retailing in China. The study recommends policymakers promote third-party payment development in China to boost trade, export, import, and Internet retailing.

Keywords: Payment technology innovation; Third-party payment; Fintech; Trade; Internet retailing; China;
Copyright: © 2023 by Appiah-Otoo, Chen, Song and Obeng. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.