The Strategy Research In Contactless Payment Development Of China

As a new type of settlement and the product of financial innovation, contactless payment has developed very rapidly recently in the world, which has important influence in the development of economy and daily life, also became more vital in the settlement system. Although the contactless payment has been used in China and got some theoretical experiences, the whole contactless payment market is immature which has not form a systematic research result. Consider of this situation, it is very necessary to set out a strategic plan for the development of the contactless payment.Firstly, this paper analyses the important role of the settlement system in the economy and the impact of contactless payment to the traditional settlement system, systematically introduced the strategic development and the contactless payment theory, makes a overview of the international development of contactless payment. Secondly, this paper discusses the current situation of contactless payment, and points out the main problems existed in this payment such as the non-unify technical standards, unsound legal system, non-perform supervision and the potential payment risk. Although with this problems in the development of contactless payment, there still have some favorable terms like the improvement in the respects of policy, legal and market environment. The third part of this article emphatically introduced the payment system in Japan and Korea that have been performed successfully in the world. In the fourth part of this paper, the author starts with analysis the current development of the contactless payment in China, then made the strategic plan based on this situation and the foreign experiences that including the strategic points of targets, principles and key-points. Based on the comparison of the advantages and disadvantages between the market-leading model and government-leading model respectively, the paper suggests that we should adopt a combination model of these two leading models which prefer the market-leading model. The strategic route of the contactless payment development is the other key point of this article. This paper introduced this strategy from the technical standard, the construction of payment and settlement system, the form of the service organizations, the design of the law system and the supervision on electrical money, which aims to build a systematical strategy of contactless payment.