Research On The Development Strategy Of International Payment Of WY

In recent years,cross-border E-commerce import and export volume maintained a relatively high growth rate.Thanks to the economic development and the consumption upgrade,the international luxury brand clothing,baby products,health food,beauty care products have become popular among Chinese people;in addition to the physical trade field,the service trade field has also become more frequent: Korean medical beauty,Southeast Asia leisure travel,European and American car rental & apartment short rental,and study abroad services have gradually become the regular consumption items of Chinese middle class.Payment is essential for a trade as cross-border payment is for international trade.Multinational trade boost the expansion of overall transaction scale of the import trade;therefore,cross-border payment,which depends on the transaction volume of ecommerce,is also in a good prospect.More and more companies enter into the field of cross-border payment,and they found new business growth point.After three years of development,a wonderful amount of players emerged in the cross-border payment industry.As a jumped-up industry,industry participants are enduring tremendous pressure from changes in policies,shortage of talents,unknown overseas markets,increasing industry entrants,and competition from banks on similar business.WY Payment Company's crossborder payment services encountered a bottleneck after the business volume rose to a relatively high level at the first development stage.In October 2016,Cross-border Interbank Payment System(CIPS)formally launched,which marks the takeoff of the internationalization of RMB.Overall,the development of import and export trade and the needs of the internationalization of RMB both put forward the requirements for the development and innovation of cross-border payment industry.How can WY cross-border payment be standing out from all its peers? How can WY create a higher performance,provide a better service and dig out deeper customer needs? This paper is going to discuss above questions and make some insights into the development direction and strategy of WY Payment Company.The analysis contains the history of the payment industry,the macro environment,peers situation in the same industry,and the strategy of WY Company.