Research On The Development Strategy Of Third-party Payment Service For Bank Of WK

The Third party payment service has become an indispensable means of transaction for consumers, and for commercial banks, providing third-party payment services, and thus participate in the online payment process can help to increase the original intermediate business income, and it’s also a way to broaden the sources of funding, besides it can be used as an important means to collect customer credit information as well as enhance the brand influence of banks, on the other hand, the development of third-party payment service is important to improve the competitiveness of commercial banks.The Bank of WK is one of the banks to first provide third-party payment service, and promptly seized the huge potential market opportunities of third-party payment. However, with the in-depth development of the third-party payment services, major commercial banks started to increase cooperation efforts with third-party payment companies in order to compete for market share, which resulted in the rapidly shrinking of third-party payment service market share of Bank of WK, this also resulted in the decline of brand competitiveness, thus reduced the bargaining power with third-party payment companies. So we need to research on the third-party payment service strategy from the level of bilateral market research for Bank of WK, then adjust the existing service policy for Bank of WK according to the research result, then put forward a more reasonable and viable mechanism on third-party service to get more competitive advantage.The sections of this article are organized as follows:The first chapter is the introduction of this paper, mainly on the background of the topics, significance and research status, pointing out the basis of research priorities and research contents of this paper, and finally proposed the research methods used in this paper.The second chapter is the theoretical basis of this paper, including introduction of the third-party payment theory, bilateral market theory and game theory, which lay the foundation for analysis of competition and cooperation between banks and enterprises in the third-party payment industry, as well as the proposed strategy arguments.In the third chapter, through analysis of the third-party payment situation of Bank of WK, not only find the competitive advantage compared with other banks, but also point out issues and challenges of third-party payment services of WK Bank.In the forth Chapter, in order to improve third-party payment market share for the WK bank, this paper proposed development suggestions from market positioning, pay strategy, third-party payment service strategy, game strategy and risk prevention strategies this five areas. The fifth chapter is the concluding part of this paper, first made a summary of the research, and then analyzed the limitations and future research directions of this study.