Research On The Development Of Mobile Payment Business Of Commercial Banks

With the continuous development of smart mobile terminals and the continuous updating of technology,the mobile payment market is developing rapidly.Mobile financial products based on mobile payment are gradually becoming the mainstream financial service methods,and penetrate into various aspects such as clothing,food,housing and transportation in people's daily life.The payment field has changed from a former commercial bank to a"single show" and has become a situation in which commercial banks and other non-financial payment institutions compete.Commercial banks and third-party payment platforms have introduced new ideas,using their own advantages to develop and pay for products,expand the market,and various emerging payment methods emerge in an endless stream,and competition is becoming increasingly fierce.At the same time,mobile payment is a new thing compared with traditional bank payment settlement,and it is developing rapidly.It is obviously lagging behind in terms of policies and regulations,industry norms,risk prevention and other safeguards.Security vulnerabilities,technical risks,market chaos and other issues are also It will follow.The emerging mobile payment market not only promotes the rapid development of third-party payment platforms,but also motivates commercial banks to reposition their leading-edge business development strategies.Faced with opportunities and challenges,how to judge trends,interpret policies,analyze markets,and update technologies,so as to give full play to advantages,launch payment products that meet market demand,and seize market share.Commercial banks and other payment institutions must seriously study and scientifically formulate strategic goals.,occupy the dominant position in the market and achieve long-term development.This paper elaborates on the basic concepts and development status of mobile payment services.By comparing UnionPay cloud flash payment APP,mobile operators,third-party payment platforms such as Alipay and WeChat payment,it is concluded that commercial banks develop the advantages and disadvantages of mobile payment in the case of rapid development of mobile payment,and propose improvement plans.By analyzing the internal and external environmental changes faced by commercial banks in the development of mobile payment,a comprehensive analysis of the development of mobile payment by commercial banks was conducted through SWOT analysis.This paper analyzes the direction of commercial banks in developing mobile payment under the new situation and combines the characteristics and advantages of commercial banks to propose their own strategic development goals,build a new retail ecosystem,and strengthen cooperation and win-win with third-party payment institutions.The safety factor strengthens the supervision,thus realizing the leap-forward development of commercial banks' mobile payment.