Research On The Impact Of Third Party Payment In China On The Intermediary Business Of Commercial Bank

With “the 13 th Five-Year Plan” being taken,the new normal development model of China's economy has gradually become clear.The traditional bank's profit model that relies on the country's controlled interest rate differential will be completely subverted.The intermediate business that has been in a low-risk,low-cost way and providing stable income for banks,which has been neglected by traditional banks,is gradually becoming a new profit growth point for commercial banks.However,with the explosive growth of the network economy,third-party payment provides intermediate business products similar to banks with far lower prices than banks.In addition,it has the advantages of convenience,personalization and diversification,which is bound to has impact on the commercial banks intermediary business.In-depth analysis of the impact of third-party payment on the intermediary business of commercial banks will help China's commercial bank intermediary business to actively respond to the impact of third-party payment and to achieve innovative development,which has strong practical guiding significance.This paper uses comparative advantage theory and user experience theories,using panel data analysis models to conduct an in-depth analysis of the relationship between third-party payment and bank card business,agency service business,custody business and settlement and clearing business.Firstly,after briefly introducing the development of third-party payment,the user experience theory is used to compare the advantages and disadvantages of Alipay,WeChat payment and CCB Longka payment,and the theory of comparative advantage is used to compare the comparative advantages and disadvantages of third-party payment and the intermediary business of commercial banks,the analysis of the impact path of third-party payment and intermediate business segmentation is taken.Secondly,after selecting the variables and setting the model,the panel data regression method is used to empirically analyze the influence of thirdparty payment on the intermediate business segmentation field.Finally,based on the empirical results,the five lines banks,joint-stock commercial banks and city commercial banks have put forward corresponding policy recommendations.The main conclusions of this paper are as follows:(1)Third-party payment has a significant impact on the intermediary business of commercial banks in China.Empirical analysis shows that third-party payment has a significant negative correlation with bank card business,agency service business and settlement and clearing business,but with custody and Other hosting businesses do not have a significant correlation.(2)The degree of influence from Third-party payment on the different types of commercial banks' intermediary business is different.The empirical analysis shows that the impact of third-party payment on the five lines banks is less than the impact on the joint-stock commercial banks,but the correlation with the intermediary business of the city commercial banks is not significant.(3)The impact of third-party mobile payment and third-party Internet payment on the intermediary business of China's commercial banks is different.The empirical results show that the third-party mobile payment has more influence on the intermediary business of China's commercial banks than the third-party Internet payment.This study has great practical guiding significance: A detailed analysis of the interrelationship between different types of third-party payment in China and various types of intermediary services of different types of commercial banks will not only help the regulatory layer to deeply understand the relationship between third-party payment and intermediary business in China,but also provides different types of commercial banks with the business development strategy.