Research On The Development Of Mobile Payments In Commercial Banks Of China

Payment is basic financial meet for people. As China is stepping into 4G network development age, there are so many payment scenarios in life. The mobile payment technology isn't fresh thing, but in Chinese market, mobile payment already is the hottest business. Chinese Commercial Banks, Mobile Network Operators and The 3td Payments enterprises are joining Mobile Payments market and developing their products. The People's Bank of China issued Internet Payments Technology Standard of The Financial Industry in 2012. The standard is guideline for Chinese Mobile Payments. By the June of 2014, Chinese cyber citizens was reached 6.86 hundreds million. And by the July of 2014, there are 269 enterprises have received the 3rd payments certification in total, which granted by The People's Bank of China. According to mentioned data, Mobile Payments development is on the highway in China. Although Mobile Payments provides opportunities, the industry is facing high-risky, security threaten issues. In China, Mobile Payments' is being explored suitable development mode.In this paper, Mobile Payments concept and development would be described in detail. Under compared domestic with oversea in Mobile Payments, providing excellent and precious experience is for Chinese Mobile Payments market. In addition, this paper analyzed current development situation and restricted issues for Chinese commercial banks and used Interpretative Structural Modeling Method to analyze 13 limited factors and find root cause. At last, the paper provided strategy suggestions which include co-operating with the 3td payments enterprises, creating more innovation products and hunting accurate market and customers.