Research On The Impact Of Third Party Payment On Intermediate Business Of Commercial Banks In China

With the development of the Internet,the popularization of smart devices such as mobile phones and the rise of e-commerce in China,the volume of third-party payment transactions has been growing rapidly since 2009.With the advantages of convenience,the third-party payment has occupied a larger market share of the intermediary business of commercial banks in China.Under the background of interest rate market,it is difficult for commercial banks to continue to take the deposit-loan spreads as the development mode.Actively innovating and optimizing intermediary business products is an important measure for commercial banks in China to cope with the fierce market competition.Third-party payment promotes the innovation of settlement business and expands the development of asset custody business to a certain extent;On the other hand,it squeezes the bank payment and settlement,fund custody and financial management business,and impacts the credit card business in bank card business.On the basis of qualitative analysis,we select and collate the relevant data of 12 representative joint-stock listed commercial banks from the first half of 2013 to the first half of 2018,and construct a panel data model for empirical analysis,in order to better verify the positive and negative impact of third-party Internet payment and mobile payment on each type of intermediary business of commercial banks in China.Due to the subtle differences in the classification of intermediary business of target banks,according to the criteria of more frequent occurrence of classification,intermediary business can be divided into seven categories:payment and settlement intermediary business,bank card business,agency intermediary business,fund trusteeship intermediary business,guarantee commitment intermediary business,consultancy intermediary business and other types of intermediary business.The explained variables are seven categories,that is,intermediary business of payment and settlement type,intermediary business of bank card business,intermediary business of agency type,intermediary business of fund trustee Inter-business accounts for the proportion of business income,with the volume of third-partyInternet payment and mobile payment transactions as explanatory variables,money supply and GDP as macro-control variables,net interest rate,total bank assets and capital adequacy as micro-control variables,and on the basis of variable selection,panel model is constructed.Through F test,LM test and Hausman test,it is determined that the fixed efficiency is selected.According to the model,stochastic effect model or mixed effect model,the impact of third-party mobile payment and Internet payment on intermediary business is analyzed by regression after setting up the model.Through analysis,the following conclusions are drawn:third-party payment has a significant positive impact on the intermediary business of listed commercial banks in China,and guarantee commitment business of Listed Commercial Banks except five banks.There is a negative correlation with third party payment.Five major banks' payment and settlement and guarantee promises are squeezed by third party Internet payment.Third party mobile payment has a positive impact on consulting and advisory intermediary business.In this regard,our commercial banks should make full use of the advantages of information technology to carry out product innovation and optimization services;Carry out and upgrade characteristic services according to their own advantages;And develop together with third-party payment institutions for mutual benefit.