The Game Research Of Strategy Choice In The Multi-participant Electronic Payment Market

With the emergence of more and more electronic payment methods,and the rapid expansion and popularization of electronic payment service scene,the age of cashless electronic payments is accelerating to be true,new electronic payments,such as the third-party internet payment,the third-party mobile payment have maintained the momentum of rapid development,these products and services of the electronic payment industry will develop towards convenience and efficiency.We know that electronic payment is the basis of e-commerce,the more secure and convenient electronic payment is,the more it can promote the development of e-commerce;the development of e-commerce,in turn,is also promoting the development of electronic payment to users'needs,this creates a spiral upward process.Facing the leading shape of the market share of third-party payment,how can online Banks choose to recover the lost users,and how should the regulators regulate the constant innovation of third-party payment,these are of great significance to China's electronic payment industry,e-commerce and even the financial industry.This paper analyzes the development status of electronic payment market in China,and through case studies,use the classic game model to analysis the Nash equilibrium between online banking and third-party payment about security and convenient game;the Nash equilibrium between online banking and third-party payment about competition and cooperative game;the Nash equilibrium of the game of innovation and regulation between third-party payment and financial supervision institutions.By establishing and solving the Nash equilibrium of each game model,we can draw the conclusion:first,in the electronic payment market,online banking and third-party payment should adopt a convenient strategy for better development,jointly promote the development of electronic payment market.Secondly,the best development of online banking is to cooperate with third-party payment,because through cooperation it can acquire more capital flow and big data of customers to promote its development.And it should optimize operation flow and improve user experience.Finally,financial regulators should make moderate supervision to the innovation of third-party payments,and the third-party payment should maintain the innovation strength,to promote the electronic payment market prosperity development.According to the conclusion of Nash equilibrium,the main advice of strategy selection we can give is:online banking should keep pace with the era of mobile payments,and increase its innovation intensity,and learn from the third-party payment service provider to make innovation from the user perspective,from the customer's point of view to improve financial services,to provide customers with convenient and efficient financial services.Banks should maintain cooperation with third-party payment companies,taking advantage of each other,and share each other with data and technology,to create an electronic payment service that allows consumers to choose more channels,then jointly promote the good development of electronic payment market.For third-party payment providers,it is still necessary to make improving the user experience as its primary development goal in the future development,to strengthen account security,andalso need to make continuous innovation to bring more convenient and perfect payment experience to users under the premise of safety.Others,third-party payment companies try to maintain a certain cooperative relationship with the bank,and maintain a competitive attitude,to remain competitive in the market through constant innovation.Financial regulators should allow and encourage normative innovation,and severely regulate and punish violations,to make sure that there is no systemic financial risk,and promote the healthy development of our financial system.