A Reasearch On Competition Strategy Of Mobile Third-Party Payment From The Perspective Of Users' Choices

Effective competition strategy is of great important to participate in market competition.As to mobile third-party payment service provider(MTPSP),its' penetration in offline payment market development,can only achieve competition advantage and seek long-term development based on effective strategies making and implementation.In reality,most mobile third-party payment service providers are developing the offline payment market in a way of burning money,and ignoring the division of the target group and the real demand of users;And academia's competition strategy research on third-party payment research,has put more attention on pricing of two-sided market and qualitative analysis of industry integration,apparently could not guide the fast-growing industry practice.However,the formulation of effective competition strategy depends not only on a clear learning of industry market characteristics,competition situation and its' own advantage and disadvantage,but more on the deeply understanding of the target users' demand preferences.At present,adoption and acceptance research on mobile payment has always been the hot topic in academia,and achieve a large number of literature,these studies is helpful in understanding the needs of the users of mobile payment preference,and of important theoretical and realistic significance as to make the market strategy for the development of mobile payment.Nowadays,mobile third-party payment,which is a new model of third-party payment,has achieved rapid development and attracted the eyes of the academia and industry.However,the previous adoption and acceptance research is not enough to explain the user's choice of MTPSP in the offline payment market,for on the one hand,MTPSP has accumulated billions of users in the process of the online payment market development,the pre-influence adoption factors is not important;on the other hand,the choice of MTPSP tool in the offline payment market will be inevitably affected by the present of other payment tool;In addition,the previous research has put little attention on adoption of merchant user which is an important part of two-sided market.Therefore,in view of the insufficient understanding of user's payment choice of MTPSP in academia and industry practice,especially in the present of other payment tools,with the background of MTPSP's penetration development in offline payment market and the understanding of user's needs in the service of the structure of the competition strategy,this paper will make a deep research on the payment choices of two different users-consumer user and merchant user,so as to serve the mobile third-party payment industry practices.Based on the above research,with the method of focus group interview,experiment research,case study and regression analysis,this paper will make a deep research on user 's payment choice to payment tools especially to MTPSP tool,explore the influence factors,mechanism and the decision-making process,put forward competition strategy of development for MTPSP.In this paper,the research will be mainly concentrated in the following aspects:1.Analysis of offline payment market for mobile third-party payment.Based on summary of current research on the third-party payment,a clear definition of offline payment of MTPSP will be given,which is apparent different from the online payment of third-party payment and will produce important influence on payment market in the future.Then,this paper will analyze the current situation of the development of payment service market in China,and with emphasis on the comparative analysis of the advantages and disadvantages on the current mainstream payment model-mobile third-party payment and unionpay payment.And then further;based on the dynamic evolution game theory,this paper will discuss the penetration development into the offline payment market of MTPSP,with the conclusion is that,MTPSPs which has a big network externalities and resource integration ability will launch the penetration into offline payment market inevitably.Based on the theory of two-sided market theory,this paper discusses the characteristic of the offline payment market,which is different from the online payment market.In the offline market,MTPSP will have to put attention to both users' preferences and choices including consumer user and merchant user.2.Research on consumer's payment choice.The consumer's selection and use of MTPSP directly decides the pole of MTPSP in the offline payment market.For consumer's choice,with the help of the theory of life cycle,this paper divides the current online users of MTPSP into three groups,and then combining with the consumption characteristics of each group,makes a qualitative research on the influence factors of consumers' chooses on MTPSP with the method of focus group interview and the theoretical framework of diffusion of innovation.Then by using experimental research method,pair sample test and regression analysis method,and building simulation shopping scene,this paper makes an observation of the 132 consumers experiment to study the influence of payment promotion on consumer's payment choice and impact mechanism.The basic conclusion is: different crowds have different influence factors;payment promotion is the most effective for the first group(18y-25y),also the habit of using MTPSP is easily cultivated in this group and influenced by Word of mouth,as to the factors,useful features is most important to this group.And the second group(23y-30y)will focus on the comparison between multiple payment tool to make a maximize profits,and are tolerant of transaction security,the environmental impact is bigger;the third group(30y-40y),Due to the curing habit of using credit card,it is difficult for them to form the habit of using MTPSP,the payment promotion has the smallest influence on them,in addition,transaction security is one of the biggest obstacle for them to user MTPSP.3.Research on merchant's payment choice.The merchant's use of MTPSP created the basic market environment.Based on the multi-case method,by selecting nearly 20 merchant cases distributing around in supermarket,hotel,meals,entertainment,this paper discussed merchant's payment choice for MTPSP,and found among all the factors network externalities and promotion have the biggest influence on their choices,second,the different merchants scale,technical reserves,accounting treatment requirements have influence on the choice of MTPSP,at the same time,schoolyard market as a special type of merchant has been discussed.Also,the awareness of the business for payment tool has gradually detached from payment tool itself,in order to promote business benefit maximization,prompting them to active use MTP,MTPSP shall integrate the advantage resources,provide a comprehensive range of services on the basis of payment services.4.Research on mobile third-party payment competition strategy and market integration.Competitive strategy is an important support for developing market,and market integration is an important means of implementation of competition strategy.Based on the characteristics of the current payment industry,this paper took a competitive analysis on unionpay,on the basis of understanding the competitive advantages and the disadvantages,and combining with consumer and merchant's payment choice in the foregoing chapters,from the perspective of the combination of the SWOT analysis,namely advantage-opportunities(SO)combination,weakness opportunity(WO)combination,combination of advantages-threat(ST),weakness and threats(WT)combination,put forward the mobile competition strategy of MTPSP.The implementation of competition strategy depends not only on payment service optimization,but more important on the integration of industrial chain.Based on this,this paper discussed the model type of the integration of payment industrial chain,and by building a vertical integration and vertical strategic alliance and horizontal consolidation Hotelling model,also analyzed the influence of the integration of payment industrial chain on the consumer surplus and social welfare,and points out that MTPSP should develop effective integration to ensure the implementation of effective competition strategy,so as to achieve continuous development in the market.