Research On The Impact Of Mobile Payment On Commercial Bank Payment And Bank's Countermeasures

Financial industry is the lubricant of the national economy.Payment is one of the core functions of the financial industry.The technological revolution and changes of consumer behavior have brought about changes in payment services.The internet financial mobile payment represented by Alipay etc.stimulated huge demand for multiple scenarios and cashless payments,making revolutions in payment services.This paper studies the impact of Internet financial mobile payment on commercial bank payment services.Based on two-sided market theory,it explains the business impact on traditional payment service caused by the mobile payment service which is a combination of technology innovation and network effect.The impact mechanism of mobile payment on commercial bank payment services can be summarized in three ways: First,the economics of scale brought by two-sided market structure,which is mainly reflected in online shopping and offline payment;Second,the convenience of transaction of Internet mobile payment.Reduce transaction costs,reflected in the financial consumer behavior;Third,security differences and user behavior differences,mainly reflected in the transfer business.Therefore,network effects,transaction costs,and transaction security constitute the main influencing mechanisms for mobile payment and traditional payment services.The results of theoretical analysis show that high network effect and low transaction cost push the scale expansion of mobile payment,which is also the market advantage of internet mobile finance.Information identification and account setting of economic individuals are key facilities in the financial industry,and it is the advantage of traditional commercial bank.To using SWOT analysis instrument,the paper provides coping strategy for banks from the perspective of network security and service.Under the joint promotion of technology and demand,mobile payment is the general trend of financial payment services.At present,the Internet platforms such as Alipay and Wechat Payment in the daily consumption field have formed an oligopolistic competition and formed a threat to commercial bank payment services.There was a clear impact,but the establishment of “Netlink Liquidation Co.,Ltd.” provided a relatively fair environment for the competition between bank payment services and third-party payment services,which is an opportunity for the development of commercial bank payment services.Strengthening cooperation among platforms,simplifying transaction procedures,improving transaction convenience,and cultivating young consumers' payment habits are the key ways for commercial banks to improve their business.