Nicolaus Copernicus University Researchers Further Understanding of Risk Management (Evolutionary Game Analysis of the Partners’ Behavior in the Rural E-Payment Market of China): Insurance – Risk Management

2022 JAN 11 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Data detailed on insurance have been presented. According to news reporting out of Torun, Poland, by NewsRx editors, research stated, “The rural e-payment market in China is becoming one of the important topics in the research field because of its contribution to the efficiency of fund flows in the economy. Further development of the rural e-payment market mainly depends on its partners’ acceptance.”

The news correspondents obtained a quote from the research from Nicolaus Copernicus University: “In March 2020, 776.08 million people were using mobile payments in China. After the COVID-19 pandemic in China, the Payment and Clearing Association of China launched an action to encourage citizens to use mobile payments. In this article evolutionary game theory is presented. The benefits of e-payments between financial institutions and users are studied. Based on the analysis of the partners’ selection of costs and profits as well as other factors, important conclusions were drawn. The growth of the rural economy is beneficial to the change of the partners’ behavior in the rural e-payment market. Dynamic evolution of the partners’ behavior makes the supply and demand for rural e-payment services consistent.”

According to the news reporters, the research concluded: “In order to create more benefits, financial institutions will lead the move to merge the rural e-payment market with the China National Advanced Payment System. These research results are beneficial for its growth by developing strategies to encourage more partners to take part in the rural e-payment market in China.”

For more information on this research see: Evolutionary Game Analysis of the Partners’ Behavior in the Rural E-Payment Market of China. Risks, 2021,9(220):220. (Risks - http://www.mdpi.com/journal/risks). The publisher for Risks is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/risks9120220.

Our news editors report that more information may be obtained by contacting Jerzy Witold Wisniewski, Department of Econometrics and Statistics, Nicolaus Copernicus University, 87-100 Torun, Poland. Additional authors for this research include Ewelina Sokolowska, Jinghua Wu, Anna Dziadkiewicz.

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