Research On The Influence Of Third-party Payment On Intermediary Business Of Commercial Banks

The third-party payment is a new type of financial form,which comes into being under the background of the progress of information technology.Internet payment and mobile payment are the main payment forms of third-party payment.In recent years,the popularity of smart phones has promoted the rapid development of third-party mobile payment.In 2016,the mobile payment market scale completed the reverse of the Internet payment model.With the rapid development of various forms of payment,third-party payment has experienced a rapid expansion of the process.In 2019,the market size of comprehensive third-party payment exceeded 248 trillion yuan,and the mobile payment market reached 204 trillion yuan,accounting for 80% of the total.With the gradual advance and basic completion of interest rate liberalization,commercial Banks are facing major changes in the traditional revenue model that relies on interest rate difference,and are in urgent need of new business growth points.Compared with the mature development mode in foreign countries,the intermediary business of Chinese commercial Banks is far behind in both scale and quality,with a broad space for development.Various types of commercial Banks,including state-owned commercial Banks,joint-stock Banks and urban commercial Banks,gradually attach importance to the development of intermediary business,and the importance of intermediary business is increasing day by day.The cost of third-party payment is low,fast and efficient,and its application scenarios cover a wide range of areas,bringing great convenience to personal life and work.At the same time,its business scope is constantly expanding,from the initial payment and settlement to microfinance,investment and financial management and other fields.Due to the overlap of business scope and target customers,third-party payment and intermediary business of commercial Banks have formed a competitive situation.The impact of third-party payment on the intermediary business of commercial Banks is extensive and complex,with both positive promotion effect and negative impact effect.With the gradual expansion of the scale of third-party payment,this influence is more and more profound.Based on this,this paper,based on commercial Banks,discusses the direction and extent of the influence of third-party payment on the intermediary business of commercial Banks and their classified businesses,and provides targeted Suggestions for commercial Banks' intermediary business to cope with the impact of third-party payment,so as to promote the sustainable and healthy development of commercial Banks.This paper combines theoretical analysis with empirical verification to systematically explore the impact of third-party payment on the intermediary business of commercial Banks.First of all,this paper introduces the background and significance of the topic,research framework and specific research methods.At the same time,on the basis of summarizing and sorting out relevant literature,it draws lessons from previous research experience and establishes the research thinking of discussing the specific mechanism of action from both positive and negative aspects.Secondly,this paper systematically expounds the general situation related to the third-party payment,mainly including the connotation,development process and development status.Then,combined with the sample data of 16 commercial Banks selected in this paper,the development status and problems of the intermediary business of commercial Banks are analyzed in detail.Thirdly,in the part of theoretical analysis,based on the relevant theoretical basis,this paper makes an in-depth discussion on the positive and negative action mechanism of third-party payment affecting the intermediary business of commercial Banks.Finally,in the part of empirical analysis,this paper collates relevant data indicators of 16 sample commercial Banks from 2010 to 2019,establishes an econometric model,conducts panel regression,and respectively discusses the impact of third-party payment on the overall intermediate business and its subdivision business of commercial Banks.The results show that :(1)the third-party payment has a significant negative impact on the intermediary business of China's commercial Banks.This is mainly due to the fact that the third-party payment has diverted bank customers,and at the same time has an impact on various segments of the business.(2)the third party payment of intermediary business segment business nature is not the same,the influence of the third-party payment showed significant negative correlation with the bank card business relationship,and the entrusted agent business,hosting and other entrusted business has significantly positive correlation,nature and degree of influence degree and relative advantage mainly depends on the overlap of the two.In order to mitigate the negative impact of third-party payment and make the most of its positive promotion effect,several Suggestions are put forward at the end of the paper in order to provide impetus for the sustainable development of commercial Banks.First,enrich the functions of bank card business and develop cross-border payment;Second,broaden the payment channels and improve their own payment system;Third,expand the coverage of agency business to improve customer experience;Fourth,strive for reserve custody qualification and strengthen mutually beneficial cooperation.