Research On The Influence Of Third Party Payment On The Intermediary Business Of Listed Commercial Banks

On October 24,2015,the people’s Bank of China decided not to set the upper limit of floating deposit interest rate for commercial banks and rural cooperative financial institutions.Under the trend of interest rate marketization,the traditional business model of commercial banks that rely on the traditional deposit loan interest margin to obtain interest income is greatly challenged.The profit model of commercial banks will change from traditional interest income to non interest income.In this context,the development of intermediary business has become the choice for most commercial banks to change their profit model.Internet finance is the inevitable outcome of social development and technological progress.In recent years,with the rapid development of Internet finance,the third-party payment continues to permeate the traditional intermediary business such as payment and settlement,financial management,agency,etc.of commercial banks with its innovative products and personalized services,affecting the income of the intermediary business of commercial banks,and threatening the operation and development of commercial banks.Therefore,this paper combines theoretical analysis and empirical analysis to study the impact of third-party payment on the intermediary business of commercial banks.This paper introduces the concept,operation characteristics and classification of the third-party payment and the intermediary business of commercial banks respectively.By analyzing the current situation and trend of the development of the third-party payment and the intermediary business of commercial banks,it is found that there are many overlaps between the third-party payment and the intermediary business of commercial banks in terms of business operation,there is a competitive relationship,and the joint-stock commercial banks rely on the intermediary business Obviously larger than the five major state-owned commercial banks.In the process of research on the current situation of intermediary business of commercial banks,because there are many commercial banks in China,16 commercial banks listed before 2010 are selected as the representative to conduct research.Combined with the overlapping business scope of the two,five intermediary businesses of commercial banks are selected,i.e.payment and settlement business,bank card business,agency business,financial management business and e-banking business Discuss the influence path of the third-party payment on the intermediary business of commercial banks.In the aspect of empirical research,combined with the data of 16 listed commercial banks in China from 2010 to 2018,the static panel data model is used to test the above research results.Among them,the proportion of commission income and commission income of listed commercial banks is taken as the explained variable,the total transaction scale of third-party mobile payment and third-party Internet payment is taken as the explained variable,GDP,money supply M2,CBCI,ASS,IMP,CIR and CAR are taken as the control variables.Finally,combined with the above analysis,this paper puts forward suggestions for commercial banks from six aspects: improving business processing efficiency,providing differentiated business services,expanding business application scenarios,focusing on the development and application of information technology.With the continuous upgrading of network technology,the third-party payment in the development of the intermediary business with commercial banks more and more cross,has attracted great attention in the academic community.However,in the existing literature,there are only a few articles to study the impact path of third-party payment on the intermediary business of commercial banks from the perspective of intermediary business classification.Therefore,the research in this paper is theoretically a supplement and improvement of the research on the third-party payment,which provides a new idea for the research on the development of the intermediary business of commercial banks,and also has an important practical guiding significance for the transformation and development of the intermediary business of commercial banks under the wave of the Internet.