Research On The Market-oriented Transition Strategy Of China Unionpay Under The Background Of Mobile Payment

With the rapid development of mobile Internet technology,mobile payment is gradually becoming a mainstream payment way into people's lives,and has aroused widespread concern of regulators and payment companies.The people's Bank of China has issued relevant policies and regulations on mobile payment market several times.VISA,MasterCard and Apple pay in the international market,Alipay,WeChat and UnionPay has launched fierce competition in this "Red Sea",which brings new opportunities and challenges to the domestic traditional payment enterprises represented by China UnionPay.Faced with the rapid development and complex competitive situation in the field of mobile payment,China UnionPay timely changed its business strategy,adopted positive and effective measures,launched mobile payment products such as UnionPay APP,relying on convenient payment scenarios such as transportation,extended the inclusive service from UnionPay entity card to virtual mobile terminal.However,changes in regulatory policies,competitor strategies and consumer demand,as well as the development of mobile payment technology,make the future development of China UnionPay,a traditional payment enterprise,full of variables.Starting from the current situation of mobile payment development at home and abroad,and closely combining with the actual situation of China UnionPay in the field of mobile payment,this paper comprehensively and objectively analyses the situation faced by China UnionPay in the mobile payment market and the strengths and weaknesses of related mobile payment products of enterprises in response to market competition by adopting PEST analysis method,industry life cycle theory and SWOT analysis method in economics and management.And the path for enterprises to realize their own development and market-oriented transformation under the background of mobile payment.This paper will analyze the background of mobile payment and the combination of China UnionPay Enterprises,and finally put forward reasonable suggestions on how China UnionPay can give full play to its own advantages under the current background,and further realize its own characteristics of compliance,inclusiveness,innovation and security development.