关键词: 网络外部性 , 需求异质性 , 电子支付工具 , 互联网金融

Abstract:

The network externality and heterogeneity in the demand side have the contrary impacts on the convergence of payment instruments. IT development, by enlarging the user base and interlinking with the fiat money system, narrows the gap of epayment instruments with the traditional instruments in network effects. On the other hand, by endowing with various additional functions to epayment instruments, it makes them satisfy the heterogeneous demand much well. The innovation of epayment leads to the divergence in the use of payment instruments, but this will not threat the dominated position of fiat money.

Key words: network externality , demand heterogeneity , electronic payment instrument , internet finance