Research On The Competitive Strategy Of Mobile Payment Business Of Industrial And Commercial Bank Of China HH Branch

With the continuous advancement of science and technology and productivity,people are increasingly demanding payment experiences in their daily lives.The original barter exchange has long been unable to meet people's needs.Later,metal currency and banknotes and credit card payment have provided convenience for payment to a certain extent,but it still cannot completely solve the problem of payment security and convenience.As an emerging payment method,mobile payment has the characteristics of easy trading and easy travel.It has entered people's field of vision and is gradually accepted by many people.As a representative of state-owned commercial banks,Industrial and Commercial Bank of China has always practiced the concept of honesty,people-oriented,steady,innovative and excellent business development.In recent years,it has been actively exploring and innovating in the field of mobile payment,and has achieved good results.However,as the competition in the mobile payment market becomes increasingly fierce,the challenges facing ICBC will become more severe.To this end,ICBC has made mobile payment as an important direction of business development,it is necessary to incorporate it into the overall strategic system of development for in-depth analysis,research and develop a competitive strategy suitable for its own business development and supplement it with Practical and relevant safeguard measures to prevail in a fierce market competition environment.This paper analyzes the external macro environment and industry competition environment of ICBC HH branches by using PEST analysis and Porter's five-force model to analyze the opportunities and threats in the mobile payment service market.The analysis of internal resources and capabilities summarizes the strengths and weaknesses of ICBC HH branches.Based on these analyses,SWOT strategic analysis tools are used to derive four alternative strategies and compare them.Finally,combined with the actual situation of the enterprise,determine the differentiated competition strategy,and formulate reasonable safeguard measures from the four aspects of organization,manpower,resources and marketing.This paper proposes that ICH HH branches should choose a differentiated competition strategy in the mobile payment market competition.It provides theoretical basis and strategic implementation suggestions for ICBC HH branches to gain competitive advantage in the industry and to continuously and steadily develop mobile payment services.At the same time,this paper also gives some reference and reference for other commercial banks that develop mobile payment services.value.