Research On The Development Strategy Of Mobile Payment In Commercial Banks

Since its appearance in January 2014,Wechat Red Packet has been widely loved by the public.Nowadays,Wechat Red Packet has become an indispensable part of people’s daily life.Wechat Red Packet is actually an application of mobile payment.With the rapid development of mobile Internet and the birth of mobile payment in the first year of 2014,people are no longer keen on using cash to pay,but more convenient and fast online payment.Mobile payment has changed people’s payment habits and become a disruptive payment method in the 21 st century.The change of payment mode is not only the change from cash to electronic money,but also the change of money transaction mode and people’s life style.At present,the main operators of mobile payment are commercial banks,Unicom Telecom and other mobile communication agencies,as well as third-party payment platforms.Nowadays,the third party payment platform,led by Alipay and WeChat,has occupied the main mobile payment market in China.How to win a place in commercial banks is worth discussing.This paper takes the mobile payment of ICBC as the research object.Firstly,it introduces the relevant theoretical knowledge of mobile payment,and expounds the definition of mobile payment,the development history,current situation and future development trend of mobile payment.Secondly,on the basis of introducing ICBC’s mobile payment tool,ICBC e payment,the main mobile payment product of ICBC,mobile banking,is analyzed and introduced.Then,the development of ICBC’s mobile payment business is analyzed from the macro environment and industry environment respectively.Then it analyses the advantages and disadvantages of ICBC in developing mobile payment,such as high security,mature computer network and perfect supervision are the advantages of mobile payment.ICBC has a disadvantage in terms of customer usage habits,convenience of product operation,marketing propaganda and product function innovation.Then,take the work behavior as an example,draw the corresponding enlightenment for the development of mobile payment.Finally,based on the above research,the paper puts forward some suggestions for commercial banks to develop mobile payment: cultivate customer consumption habits,enrich off-line application scenarios,improve product quality,strengthen user experience,Strengthen cooperation with third-party payment agencies,increase marketing and publicity efforts,and accelerate the pace of product innovation.