| In recent years,payment industry in China has come to a stage of rapid growth and continuous innovation,especially the highly emerging new mode of payment and its technology,such as mobile-pay,which has introduced a wide range of impact on a global scale.China UnionPay Merchant Services Co.,Ltd.(hereinafter referred to as:China UMS),held by China UnionPay,is specialized in the construction of bankcard acceptance market and provision of integrated payment services.As a leading enterprise in the domestic third-party payment,along with the economic development trend,the company has been growing fast since its establishment.Even though it has been ranking 1st among Asia Pacific acquirers,and 14th among global acquirers,the expansion of China UMS traditional acquisition market has experienced a decline and has formed a trend,business foundation also got affected,the traditional advantages is facing an overturn.Hence a transformation to comprehensive service has to be enforced.This article is solving problem that has been encountered during Unionpay business development,as well as how to achieve the transformation of company development through strategic adjustment,and how to secure implementation of the strategic transformation.The author first demonstrate the third party payment macro-environment in our country,dig into history of Unionpay business development and its present situation,point out that although the third-party payment industry is in a fully competitive era,there is also a good opportunity for industry fast emerging,China UMS should push the strategic transformation with its own advantage.Meanwhile,a systematic analysis has been done,regarding internal environment,I believe China UMS has met all conditions for a strategic transformation;A SWOT analysis and a SPACE analysis for China UMS internet financial development are also conducted,based on which a feasible development strategy is also created.In conclusion,this article is aimed at providing advice and reference for China Unionpay Merchant Services strategic transformation. |
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