Research On Business Eco-system Development Strategy Of Unionpay

Bankcard industry is supported by modern information technology. Based on a plastic card base, Banks, Bankcard Associations, Third-party professional service organizations and bankcard acceptance merchants constitute groups of enterprises, providing the cardholder with electronic payment and consumer credit services. Established in March2002, UnionPay is a bankcard association established under the approval of the State Council and the People’s Bank of China. UnionPay’s primary responsibility is committed to building inter-bank transaction settlement network, providing a unified, efficient and secure inter-bank card payment settlement and other specialized financial services. The establishment of UnionPay stands for the formation of a new industrial system-"joint stipulation of rules, joint popularization of business, joint expansion of market and joint standardization of orders". It also indicates an intensive and scale development of China’s bankcard industry as well as a new phase of comprehensive and rapid development.UnionPay has become the central and pivotal part of China’s bankcard industry, and plays an essential role in the industry development. The development strategy of UnionPay relates not only to UnionPay itself but also to bankcard industry chain development. Therefore, its enterprise development strategy pitches not only to enterprise itself, but also at the height of industry chain development. Combined with national financial payment policy, the strategy of Unionpay includes the industry correlation that Unionpay is on as well as its typical Sociality.Bankcard industry belongs to typical network economy. Established foundation on high-tech of modern personal payment settlement system, the main participation party of bankcard market consist of Card issuers, Acquirers, Cardholders, Acceptance merchant and Third-party professional services along with device manufacturer, system integrated providers, network operators and application developers, which forms a closed bankcard value chain, including upstream and downstream industry clusters. In recent years, with the development of network economy, emergency payment industry marches into the field of personal payment industry by Internet payment, Mobile payment and Digital TV payment. This way of payment makes a big stream to conventional bankcard industries and takes a direct strike on payment ideas. As well, from the point of financial openness, domestic bankcard settlement market openness has been brought into time-table, and the internationalization of bankcard industry has become an inevitable trend. The health of bankcard industry development needs a healthy ecological environment as well as a network core enterprise----survival and development needs of Unionpay. Therefore, we need to determine Unionpay’s development strategy, establish a reasonable development model, promoting business innovation and the healthy development of bankcard industry, conform to the interests of bank card industry parties and the needs of national financial strategies.Business ecosystem theory is very good interpretation of the core network of enterprise development strategies in new economy era thinking. This article research of direction, is from business ecosystem theory departure, station in national industry policy, bankcard association and company of operating, multiple perspective exam bankcard industry of development mode, research China UnionPay’s development strategy based on business ecosystem; from the industrial characteristics of commercial ecology, we want to analyze the industry parties roles and status especially the core enterprise’s development strategy on the influence of the industry development as well as its development trend and motivation; from some basic theories such as the enterprise Strategy Management Theory analysis, PEST analysis, Blue Sea strategy and others, we go to combine with the present situation of domestic bankcard industry development with internationals; in many fields such as the industrial development, cultural communication, innovation,around the ecological health of industry development,we want to explore a way to maintain the high-efficiency effect that the ecological mode of bankcard industry ecosystem has on improving the productivity and the health of bankcard industry ecosystem and to study strategic prospect of the industrial policy. The aims of all of the above are to form a healthy and harmonious ecological industrial chain, through which we can develop with innovation, establishing a unified open market with orderly competition and control the industry venture. By those, we can provide an excellent bankcard industry environment to cardholders who are able to pay in much wider range, much richer fields and much more channels, and for Chinese economic development service.