The Challenge Of Internet Third-party Payments To Commercial Banks

With its advantages of convenience,openness,and high efficiency,Internet finance has gradually promoted subtle changes in people's lives.Internet finance has a very powerful resource and information carrying capacity,especially third-party payment,which plays a role in people's clothing,clothing,housing,and transportation.The very important role,with its convenience and rapidity,has made the development of traditional commercial banks face enormous challenges.Based on the theoretical basis of third-party payment,this paper analyzes the impact of Alipay on commercial banks from three aspects: business philosophy,business functions,and bank profitability of commercial banks,explores the advantages and disadvantages of Alipay's challenges to commercial banks,and proposes the advantages and disadvantages of commercial banks' preventive solution.Then we get conclusions as follows:The emergence of third-party payment such as Alipay has a significant impact on commercial banks.Alipay has an impact on the business model and business philosophy of commercial banks in the areas of business model change,customer service and banking development orientation and scale;Alipay in the field of fees,payment and settlement,deposit and withdrawal and fund insurance and online loan customers.The areas of investment and investment objects have impacts on the functions of commercial banks.Alipay has an impact on the profitability of commercial banks in the areas of personal and institutional lending,the purchase and sale of third-party wealth management products and financing as well as third-party payment platforms and bank e-commerce.The emergence of Alipay will present significant advantages and disadvantages to commercial banks.Mainly to improve the overall market structure of commercial banks,adjust the types of commercial banks and accelerate the advantages of commercial banks in China.Disadvantages mainly increase the operational risk of commercial banks,allowing commercial banks to shrink their business volume and convenient operations such as Alipay to make commercial banks' intermediary status gradually replaced.Under the fierce impact of third-party payment,commercial banks need to propose their own set of countermeasures.Commercial banks need to enhance their own innovation capabilities,achieve big data in commercial banks through technological innovation,simplify business processes through business innovation and improve customer satisfaction through communication and innovation.Commercial banks need to change their own business concepts mainly through the division of labor between banks to achieve R&D efficiency,through the improvement of their own quality to deal with the impact of the Internet and through a comprehensive understanding of technology to change the way to achieve changes in business model.Commercial banks need to increase with the Internet financial companies' cooperation to protect its core competitive position is achieved through enhanced cooperation with regulatory agencies,credit,credit departments and payment functions.Given the long-term development status of commercial banks,they still occupy an irreplaceable position in the hearts of people.If commercial banks can couple Internet finance into their own development,they will be able to maintain their core competitiveness in the tide of information technology development.