Development And Risk Management Of Mobile Payment

In recent years, the development of electronic information technology, the rapid penetration of smart phones, the development of various mobile APP, have all greatly promoted the development of mobile Internet, especially e-commerce and mobile application stores. Thus mobile payment has shown a tendency to flourish in Internet banking, mobile social network, mobile e-commerce areas and so on. For huge convenience and covering most online and offline payment scenes, it won the majority of users and became an increasingly important means of payment. This paper discussed the development and risk management of mobile payment, the main research contents and results are as follows:1. The development of mobile payment industry were studied. Firstly, this paper discussed two mobile payment modes, the proximal payment and the remote payment. Secondly, it introduced a huge industrial chain of mobile payment and the advantages and disadvantages of its main body such as the third-party payment companies, telecom operators and financial institutions. Moreover the business models of mobile payment were discussed. Finally, this paper introduced the current situation of the development of mobile payment. We could see the future of mobile payment from the remote payment of Europe and America, the proximal payment of Japan and Korea.2. In order to have quantitative understanding of the development of mobile payment, this article made empirical research of the factors affecting mobile payment market transactions. After considering the technological development, economic development factors and data availability, it selected six appropriate explanatory variables indicators. A multiple regression equation was established by using ridge regression. The final result was that the development of mobile e-commerce has a great role in promoting the development of mobile payment. And the size of mobile e-commerce market and users are the main factors affecting the mobile payment market transaction size.3. Mobile payment industry risks were identified and analyzed. On the basis of previous studies, the paper supplemented and improved the types of mobile payment risks from five aspects, such as policy risks, legal risks, technology risks, credit risks and operational risks. It laid the theoretical foundation for following risk assessment.4. The risk assessment of mobile payment system was carried out. Firstly, the paper constructed the corresponding mobile payment risk evaluation index system based on the risk identification. Secondly, it selected a third-party payment companies Z for its quantitative risk assessment by using the fuzzy comprehensive evaluation method. And the data was from 15 industry experts. In order to determine the weight of each index, it used analytic network process to establish a network hierarchy among the five risks. Finally the risk evaluation results was that the company Z had a higher risk. The result of the evaluation was coincided with the current development status of mobile payment in China.