The Research On C Bank Mobile Payment Strategy

With the development of mobile Internet and mobile e-commerce, mobile payment industry develops in rapid pace all of the world nowadays because it do meet most needs of payment and settlement business. In China, mobile payment business is also in the rapid growth period. On the one hand, the regulation of non-financial institution payment service reduce the access conditions of payment and settlement business and make some mobile operators, third-party payment companies, Internet companies, and e-commerce companies involved in these business. Banking industry do not have its monopoly position anymore because of the intense competition. On the other hand, the national standard of mobile payments service, which has been established in 2014, unify the technical standards of these business. This standard could bring lots of opportunities to mobile payment business. As a national and state-controlled commercial bank, C Bank always stay in the leading position of banking industry for its product innovation and business transformation. The payment and settlement business is a significant intermediary business for C bank. So under this circumstance, how to deal with the challenges and how to grasp the opportunities have become the key factor for C bank to develop its mobile payment service.This dissertation uses strategy management theory and analytical model to research C bank's mobile payment service, and finally find the strategy and specific measures that C bank should use. This dissertation firstly explains the definition, classification and three major business models of mobile payment business, and then studies some representative mobile payment markets in foreign country. By comparing the foreign markets and domestic markets, we could easily find the advantage and the disadvantage that C bank meets. Then this dissertation uses PEST analysis method to analyze the mobile payment circumstance. Michael Porter's Five Forces model is also used in this dissertation to analyze the industry. The internal analysis of C bank explain the history and nowadays status of C bank's mobile payment services, and then identify some problems and shortcomings. Finally, this dissertation uses SWOT analysis to draw strategic methods and implement strategy by using SWOT matrix analysis. In conclusion, for the overall strategy, C Bank should use SO development strategy and take the advantage of increasing market to realize business innovation and transformation. On the competition strategy, C bank should use differentiation strategy in order to achieve differentiated product and service. This dissertation also provides some specific implement strategies for organizational resources, payment method, product innovation and marketing.This dissertation is a good reference to other commercial banks. However, the mobile payment services in China is still in the growth period and not yet matured, so whether should put mobile payment service in such an important position is still debatable. Due to the limitations of the theoretical level and practical experience, this dissertation has lots of disadvantages on research depth and implement strategies. Many things still need to be improved in future studies.