Journal papers reading Student Name: NG Kwok Fai Martin Student id: 15002858g, HK Polyu Date: 12-09-2016 Proposed dissertation topic: Legal aspects in Fintech research Journal paper source info: The Role of Alipay in China by Rongbing Liu Radboud University Nijmegen, Netherland October 2015 Journal papers reading

Journal papers reading 1.2 Research question Main question: How to organize a digital online payment in a cultural context? Sub-questions: 1. How to fit the local economic context? 2. How to ensure the security of payment during online transaction? 3. How to efficiently operate a digital online payment? 4. What is the impact of a digital online payment in a cultural context? Journal papers reading

Journal papers reading 7 sections in the paper 1 INTRODUCTION 2 THE ECONOMIC SYSTEM IN CHINA 3 THE ALIPAY PAYMENT SYSTEM 4 APPLICATION OF ALIPAY 5 THE COMPARISON WITH OTHER PAYMENT SYSTEMS 6 THE IMPACT OF ALIPAY 7 CONCLUSION Journal papers reading

Journal papers reading 2 THE ECONOMIC SYSTEM IN CHINA To follow the fashion trend towards online shopping, the digital online payment method is widely used on a large number of e-shopping platforms for the purpose of making/receiving a payment between buyer and seller. It is concluded that a digital online payment for example Alipay should fit the local actual economic context by meeting the requirements and initiatives of economic development for the purpose of facilitating the growth of economy. Journal papers reading

Journal papers reading 3 THE ALIPAY PAYMENT SYSTEM Escrow services, payment security There are also other three key drivers to ensure the payment security *rules and regulations under the Consumer Protection Laws. *to train its employees for forming a strong awareness of consciously mutual-supervision and sensitive risk-detection during their daily work. *to create a tight connection to its stakeholders and customers for sharing and communicating security information and issues timely. Journal papers reading

Journal papers reading 4 APPLICATION OF ALIPAY customers : purchase process + purchase experience There are three key characteristics of a good digital online payment: *able to improve and expand its payment services in a wide range of industries nationwide *able to possess a positive and motivated cultural value of enterprise, leading to organize a good online payment service in a particular context. *able to expand its payment service to overseas markets the essential conditions of success in a cultural context for an online third-party payment. Journal papers reading

Journal papers reading 5 THE COMPARISON WITH OTHER PAYMENT SYSTEMS *to provide trust and commitment towards customers *It is concluded that a full understanding of local culture and consumer preference is essential and significant before launching a digital online payment system. Journal papers reading

Journal papers reading 6 THE IMPACT OF ALIPAY Alipay influential role in economy *good digital online payment will boost the development of economy nationally and internationally in terms of e-commerce business, *making a big contribution to the improvement of daily life, the rise of mobile payment, and the development of logistics system. In short, it guides us to a better and more convenient future. Journal papers reading

Journal papers reading 7 CONCLUSION Alipay is so popular also has its own reasons, in a word, it has own unique characteristics that matches the flavor of Chinese consumers. No matter how kind of results, *with the spirit of entrepreneurship, *innovation, *unwavering concentrate on meeting the demands of its customers in terms of payment experience and transaction security, Journal papers reading

Journal papers reading 7 CONCLUSION The future researches can be focused on *how to organize a cross-border online payment more smoothly and efficiently worldwide, *integration of online payment system with other systems in a cultural context. Journal papers reading