Study On The Effect Of The Third-party Payment Platform On The Operational Efficiency Of Joint-stock Commercial Banks

In recent years,the third-party payment platforms represented by Alipay and We Chat Pay have developed extremely fast.The emergence of third-party payment platforms has caused tremendous changes in the financial industry.my country's joint-stock commercial banks have also been affected by third-party payment platforms.Therefore,this article mainly studies the impact of third-party payment platforms on the operating efficiency of joint-stock commercial banks and puts forward relevant suggestions.The operating efficiency of commercial banks is divided into total factor productivity,scale efficiency and pure technical efficiency.Total factor productivity reflects the comprehensive situation of commercial banks' operating efficiency.There are three main paths for improvement: the improvement of technological level,the improvement of scale efficiency and the improvement of pure technical efficiency.Therefore,this article starts from these three paths and conducts a theoretical analysis of the research issues.In terms of technical level,through the mechanism of technology spillovers and other mechanisms,the development of third-party payment platforms has significantly improved the technical level of joint-stock banks.In terms of scale efficiency,due to the overlapping of third-party payment platform business and part of the bank's business,the development of third-party payment platform has to some extent inhibited the expansion of the bank's part of the business scale.Overall,the development of third-party payment platform significantly inhibited the bank's scale efficiency Promote.In terms of pure technical efficiency,joint-stock banks have vigorously developed retail business in recent years,focusing on long-tail customers at low cost;on the other hand,the cooperation between third-party payment platforms and banks can also help improve the pure technical efficiency of banks.Based on the above analysis,this paper believes that in the short term,the development of third-party payment platforms has no significant impact on total factor productivity.In order to verify the above assumptions,using Deap2.1 software,the DEAMalmquist index model was used to measure the operating efficiency of sample banks,and the annual growth rate of the sum of third-party mobile payment and online payment transactions was used as the independent variable.Pure technical efficiency,technical level,and scale efficiency are used as dependent variables for panel data multiple regression.The regression results verify the assumptions about total factor productivity,technical level,and scale efficiency.But the results show that third-party payment platforms have no significant effect on the pure technical efficiency of joint-stock commercial banks.This article believes that in the long run,the bank's pure technical efficiency will improve,but in the short term,it will not be greatly improved.Finally,this article believes that joint-stock commercial banks should continue to focus on long-tail customers,develop retail business,and strengthen cooperation with third-party payment platforms.Secondly,in the face of fierce competition,they should adopt differentiated strategies to increase customer stickiness;at the same time,banks should explore openness Banking model,strengthen data sharing,and establish a good financial ecology with financial technology companies and other partners.