The Construction And Operation Strategy Of China Telecom's Wing Payment Business Ecosystem

With the rapid developments of mobile Internet and modern mobile communication technology,prices of mobile intelligent devices have declined,and communication,finance and E-commerce have been mutually integrated,which makes mobile payment business become a hot spot.At present,the entire mobile payment market has been filled with multi-player,including the major banks,Union Pay,three major operators,Ali,Tencent,Jingdong and other Internet companies.Relevant data shows that in the third quarter of 2016,the transaction volume of China's third-party mobile payment reached 22.7 trillion yuan,90%of which is occupied by Alipay and Tenpay,becoming dominances in this market.However,the scale of this market is large and the development prospects is good,so even 1%of market share is two hundred billion.The key work of China Telecom at present stage is de-telecom,which means groping for the new developing direction.As far as we are concerned,the internet finance has broad prospect which makes bestpay emerged at the right time and considered as key the business.So then,the late development of China Telecom will provide more high-quality resources to the bestpay,including capital,technology,talent,markets,channels and so on.It can be seen from the operating data,the personal user transactions of the bestpay has reached 31 billion in the first half year of 2017 and financial purchase amount also reached 73 billion which proved that the bestpay has certain development potential in the mobile payment and financial field.At the same time,this year is also the first year of the Internet of things transferred from the experimental stage to the commercial stage.China Telecom has established the first global commercial Internet with wide coverage in May which means the age of Internet of everything is coming soon,and more payment scenes and opportunities will arise.Based on the above analysis,the problems needed to be solved in this paper is put forward.How to make use of available resources of China Telecom and its own advantages to build a business ecosystem and form a competitive advantage to help the business development are major problems.This paper summarizes the basic concepts of mobile payment and ecosystem in the background of Internet finance through a lot of documents which lays a good foundation for the analysis of the paper.Then make an analysis considered with the present situations,external environments,the opportunities and challenges of China Telecom's bestpay service and find the main problems of the bestpay.Combined with the present status and problems of bestpay,a general idea of development is set.Combined with the domestic mainstream mobile payment business ecosystems analysis,an ecosystem is built accorded with bestpay and specific strategies are put forward which forms a good cycle of ecosystem and contribute to the development of bestpay.