Analysis Of The Innovation Of China Union Pay Payment Industry Under The Development Of Internet Finance

The Internet finance is developing at a rapid pace.At the same time,the reform of the payment industry is also deepening.The boom in financial markets has led to the rise of a wave of new payment business models.In the fierce market competition,China Union Pay as an international bank card organization has great competitiveness and influence.When the traditional business with an absolute advantage is affected,China Union Pay should actively promote the brand business innovation and reform to tackle market challenges.According to the data of the past years,this paper takes the development of China Union Pay payment industry as the main research object.The application of data analysis,case analysis and comparative research are used on the industrial development of a multi-directional analysis.In this paper,the first part mainly reviews the process of China's Internet finance and payment industry.Secondly,we analyze the development of China Union Pay's business and chose a more accurate model to predict the amount of bank card transaction from time series forecasting and Grey-forecasting.Then,we analyze the status of China's payment industry.The development scale of the payment market is predicted by time series forecasting fitting exponential curve equation and quadratic curve equation.We compare the predictions of the two models.Next,taking China Union Pay as the main object,we compare the payment business of several major Internet company.Finally,we summarize the situation of Internet finance payment industry and look forward to China Union Pay development opportunities and industry trends.Based on the comprehensive analysis of the development of the payment industry and China Union Pay business model,we conclude that the payment industry is developing towards mobile payment,intelligent transaction and security information processing under the market system.It will expand the platform business with technological innovation.When faced the domestic and foreign market challenges,China Union Pay needs to improve the card system and business innovation,position market accurately and expand Union Pay acceptance network here and abroad for enhancing his brand and improving the comprehensive competitiveness.