Research On The Development Strategy Of China Telecom Bestpay Under The Background Of Internet Banking

With the rapid development of Internet finance, mobile payments has gradually become a new trend. Bestpay as one of the new mobile payment services, which is launched by C hinese Telecom,is facing not only rare development opportunities, but also complex challenges. Internet finance is an emerging field of the combination of traditional financial industry and the core technology of the Internet, it is not a simple combination o f the Internet and the financial sector, it also includes the security, mobility and other network technology. It needs the acceptance of users who will acknowledge it especially on electronic commerce and then familiar with it as a new model to meet the new demand generated. Under the background of the Internet finance model and the mobile Internet era, online payment, mobile payment becomes more convenient, payment has already come into the “mobile period”. At present, there are three types of mobile payments, commercial banks driven, operators driven and third party driven.Firstly, this paper researches the related theory on Internet finance and mobile payment, analysis the current situation of both the domestic and foreign mobile payment development, including the mobile payment business model, development characteristics and the problems existing in the development of the domestic mobile payment. After that, this paper focuses on the present situation of Bestpay, which is a type of mobile payment product from C hina Telecom. Take China Telecom Yangzhou branch as an example, using the systemic analysis method, figue out the problems which Bestpay faced in the development, put forward the relevant development strategy.The strategies for the future development of Bestpay in Yangzhou include: implement telecom differentiation strategy to promote the common development of multi business; take financial transformation strategy to enlarge the application scenarios; use internet operation strategy to enhance Internet operational capacity and improve the product in the whole process of collaborative management system; improve system innovation strategy to take marketization as the objective to accelerate institutional innovation, consolidate the achievements, estab lish risk control mechanism; optimize human resource construction strategy, pay attention to the import of Internet financial talent and training, improve the financial management and service of Bestpay temas through training and communication, speed up the process of Internet financial talent team construction.