The Development Analysis Of Bank Payment Means Under The Background Of Internet Finance

Payment is the important portal of the three basic functions in finance, namely, deposit, loan, and exchange. It is also the moat of banking services. But for a long time, the payment means of Chinese banks lack of innovation. Function is too simple, and human experience is poor.Chinese banking industry has completed the “electronization” journey in the 90’s of last century. At the beginning of this century, Chinese banking industry has basically realized the inter-connectivity network of bank cards on the national scale. Bank cards have become the most widely used payment mean since the electronization of banks, which also made great contribution to the development of the payment business. However, with the most widely used magnetic stripe bank card, the frequent occurrence of fraudulent cases in recent years, its security has been questioned. The more secured financial IC card begun being issued from the beginning of 2005. But over the years the adoption of IC cards is not satisfactory. Till now it is still not in complete use.After 2005, electronic commerce has seen rapid development. And since 2009, with the rapid development of mobile internet, smart mobile devices has been quickly popularized. Internet companies like Alibaba and Tencent have stepped into payment businesses of banks through its fast innovation. Their online third party payment platform has basically monopolized the e-commerce payment market, bringing great impact to the traditional bank payment business.Under the new situation, it is a complex topic, and worthy of research, about how banks expand their financial market, providing convenient, safe and improved payment means to their customers.This paper analyzes, from the financial IT practitioner perspective, the constituent elements of payment, their nature and the existing problems. Based on the actual transaction data of Chinese banking payment system and the research reports of intelligent terminals by some relevant consulting companies, it analyzes the structural changes of the payment means, and identifies the trend of development. Meantime, from the financial investment perspective, this paper also summarizes the business development and its directions of the e-commerce field, analyzing the market needs and challenges under the backdrop of Internet finance as well as the potential investment risks. With the two perspectives combined, the paper put forward that payment development will take the path of being guided by the laws, will be non-card assisted ID identification, various and diversified means of authentication, and scale-based financial functions.With the new industrial revolution of big data, cloud computing and mobile Internet, all financial participants will face both opportunities and challenges. Private banks with genes for Internet began to appear in China. Competition in the banking sector will eventually fall on the payment gateways. The future means of payment will be integrated with elements like social and e-business, and gradually becomes a unified platform.