Analysing internet-based financial services with cutting-edge innovations

Mobile payment platforms (MPPs) have become the vanguard of financial technology (fintech), enabling instant payment and settlement with the convenience of mobile devices, and for the first time making the prospect of a cashless society within reach. There has been rapid development of MPPs in the Asia Pacific in recent years, with companies like Alipay and WeChat Pay being the dominant player.

This project seeks to address some of the profound challenges associated with such development for policymakers and general public worldwide: how to reap the benefits from the digital revolution brought about by fintech, but to ensure systemic security and fair play in the market.

For further information or if you have any queries, please contact the project lead:


The goal of the project is to enhance understanding and resilience among policymakers, media, civil society, and the general public relating to the challenges and risks associated with widespread adoption of the MPPs in the Asia Pacific.


  1. Provide an overview of the development of the MPPs in the Asia Pacific through case studies of China, Australia, New Zealand, Singapore and Thailand.
  2. Examine and assess risks of data security and market competition in corporate and regulatory practice.
  3. Provide best-practice recommendations on MPP regulation in the Asia Pacific and the wider world.

Research Report

The major outcome of the project will be a report that enhances our understanding of the risks associated with the Chinese MPPs and their global expansion as well as best-practice policy recommendations for regulatory authorities. The report will be made available here when completed.

Risks and opportunities of mobile payment platforms

E-Wallets: Risks and chances of mobile payment

SHIFT | 8 October 2019

Will mobile payment replace cash? It looks like that. In many countries, mobile payment is part of everyday life. No matter if paypal, google pay or apple pay there are many possibilities to pay mobile. The money is stored with e-wallets. But how secure are e-wallets and is it really practical?



Bell, S. and Feng, Hui. (2022) Banking on Growth Models: China’s Troubled Pursuit of Financial Reform and Economic Rebalancing (Ithaca: Cornell University Press).

Bell. S. and Feng, Hui. (2013) The Rise of the People’s Bank of China: The Politics of Institutional Change (Cambridge: Harvard University Press).

Book chapters and  journal articles

Feng, Hui. (2021) ‘Reserve Management in China: foreign reserves, renminbi internationalisation and beyond’, in Robert Pringle and Nick Carver (eds) HSBC Reserve Management Trends 2021 (London: Central Banking Publications), 49-60.

Bahaddad, A., Drew, S., Houghton, L & Alfarraj, O. A. (2018) Factors attracting online consumers to choose e-Malls for e-procurement in Saudi Arabia, Enterprise Information Systems, 12:7, 856-887.

Feng, Hui (2017) ‘Internet Finance in China: Digital Disruption and Regulatory Dilemma’, in David Chaikin and Derwent Coshott (eds) Digital Disruption: Impact on Business Models, Regulation and Financial Crime (Sydney: Australian Scholarly Publisher), 53-68.

Alfahl, H., Houghton, Sanzogni, L. (2017) Mobile Commerce Adoption in Organisations: A Qualitative study, Journal of Global Information Management. 13(4), pp. 31-57.

Alotaibi, R, Houghton L, Sandhu K (2017) Factors Influencing Users Intentions to Use Mobile Government Applications in Saudi Arabia, International Journal of Advanced Computer Science Applications 8 (7), pp.200-211.

Feng, Hui (2016) ‘The People’s Bank of China’s Internet Finance Dilemma’, Central Banking, XXVI (4): 77-83.

Alotaibi-Y, Houghton, L (2015) Factors Affecting the Adoption of Web 2.0 Technologies by

University Students: Evidence from Australia, Handbook of Research on Learning Outcomes and Learning Opportunities in the Digital Age, In Press.

Alotaibi-Y,  Houghton, L (2015) Examining the theoretical factors that influence university students to adopt Web 2.0 technologies: The Australian perspective, International & Communication Technology Education, 11 (1), pp. 1 -26. 

Alfahl, H, Sanzogni, L, Houghton, L and Sandhu, K (2013) Mobile Commerce Adoption in Organisations: A literature review and preliminary findings, IGI Global compendium on Mobile Commerce.

Bahaddad, A, Houghton, L and Drew, S. (2013) Attracting Customer in Saudi Arabia to Buy from Your Business Online, International Journal of Business and Management, Vol. 8, No.7, pp.65-81.


A collection of resources has been made available and will be updated regularly throughout the project.

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