| In recent years,third-party payment has rapidly occupied the market with its advantages of high efficiency,convenience and low cost,and the application scenarios have expanded from online consumption to Internet finance,public payment and transportation,which has caused a certain impact on commercial banks’ intermediate business development and brought new opportunities and challenges at the same time.In this regard,how should commercial banks respond and sustainably increase their intermediate business income?In this paper,the impact of third-party payment on commercial banks’ intermediate business in China is taken as the research object,and a combination of theoretical and empirical methods is used to analyze the impact,and targeted suggestions are made for commercial banks’ intermediate business based on the research results.This paper follows the idea of "theoretical research--empirical analysis and testing--conclusion and recommendation".First,the results of several studies by domestic and foreign scholars on third-party payments,commercial banks’ intermediary business,and the impact of third-party payments on commercial banks’ intermediary business are reviewed and summarized.Secondly,it introduces and analyzes the development of third-party payment in China,including the definition and business model of third-party payment,business characteristics,income composition,development status and trends,etc.;then it introduces the development of intermediary business of commercial banks in China,including the definition and classification of intermediary business,business characteristics,development status and the impact of third-party payment on bank intermediary business and the competing relationship between the two is analyzed from various aspects.Thirdly,the panel data model is constructed by selecting the annual data of 16 Ashare listed Chinese commercial banks from 2012 to 2021 and the related data of thirdparty payment as the sample,and the percentage of commercial banks’ intermediate business revenue is taken as the explanatory variable,and the scale of third-party Internet payment and mobile payment transactions is taken as the core explanatory variable.The impact of third-party payment on commercial banks’ intermediate business is studied empirically,and the empirical results are obtained.The results show that(1)Both third-party Internet payment and third-party mobile payment have a significant positive impact on intermediary business income.(2)Compared with thirdparty mobile payment,third-party Internet payment has a higher degree of impact on commercial banks’ intermediate business income.(3)Compared with the top five banks,third-party Internet payment and third-party mobile payment have a higher degree of influence on the intermediate business income of small and medium-sized banks.Finally,based on the results of the research,the following recommendations are made to commercial banks:(1)Clarify the strategic positioning of intermediate business.(2)Use the advantages of card issuing banks to continuously promote the development of payment and settlement business.(3)Strengthen the cooperation with third-party payment platforms.(4)Increase the expansion and resource investment in high value-added and high profit margin intermediate business.(5)Improve risk identification and management capabilities.(6)Pay attention to user needs and experience,and continue to invest in product innovation and technology.(7)Accurate marketing and active marketing. |
