On the Mobile Payment, Residents' Income and Consumption Structure

The way of payment will affect the purchase intention of consumers. Theoretical analysis shows that, mobile payment has the advantages of more convenient payment experience, easing consumer liquidity constraints and the existence of "psychological account" effect, so it can increase the consumption of residents. The empirical analysis further shows that mobile payment and disposable income can significantly improve the survival consumption and development consumption. After the short-term impact, survival consumption and development consumption can quickly return to the long-term equilibrium state. Granger causality test shows that the change of mobile payment and the change of survival consumption are mutually causal, and the change of mobile payment can only cause the change of development consumption in one way. The positive impact of mobile payment on consumption can be exerted by improving the penetration rate of mobile payment, encouraging technological innovation of mobile payment and strengthening supervision.