Abstract: This paper empirically tests the impact of mobile payment on household consumption level and consumption structure through mechanism analysis and based on 2017 China household financial survey data. The research shows that mobile payment will stimulate household consumption and promote the upgrading of household consumption structure.Firstly, non-cash payment is convenient for transaction, weakening the psychological pressure of purchase payment, and promoting consumption. Secondly, consumer credit plays an intermediary role,and mobile payment influences consumption level and consumption structure by enhancing the possibility of household credit consumption. Thirdly, financial literacy plays a regulatory role in the process of the impact of mobile payment on household consumption level and consumption structure.

Key words: mobile payment, consumption level, consumption structure, financial literacy