The Research On Development Of Third-part Payment Platform

In 2015,The People's Bank Of China issued "the guidance on the promotion of Internet finance healthy development" which requires the service of third-party payments companies to be standardized according to the overall requirements of the Internet finance development of"encouraging innovation,preventing risks,seeking benefits and avoiding harm and healthy development".Third-part payment plays a great role in making up the vacancy of the long tail market and improving the efficiency of the financial transaction.Therefore,it is of theoretical and practical significance to study the development of the third party payment platform.This paper analyzes the major operating mode,competitive strategy and risk management of 99bill company,which applies economics,management,law and other related theories.Supported by the data of industry report,up to now,the market of third-part payment is showing the development trend on mobile,diversification and standardization and becoming highly concentrated so that small companies may not be able to generate revenue.As suppliers and potential entrants,banks have bargaining power.The existing competition is fierce but threat of substitutes to third-part payment is not big.This paper introduces the business overview and service of 99bill company.Through the SWOT analysis,one can draw conclusions that the advantage of 99bill company lies its rich industry experience,resources of data and scenes relying on Wanda.The disadvantage lies in the homogenization of the service and the loss of platform independence.The opportunity is mergers and acquisitions utilize economic resources.The threat is the policy support towards bank,the intellectualization of electronic banking and intense competition.Some strategies are put forward to advance enterprises' core competence such as classify the market and changing its business module from the traditional payment services provider to integration financial services provider.This paper points out that the third-party payment platforms are facing credit risk,operational risk and legal risk.99bill company should strengthen the supervision on illegal payment and ensure the regulatory compliance of the related business.The company can build up perfect risk control system by using Cloud and big data.The government can complete the risk control from three aspects:effective supervision,information disclosure and industry self-discipline.For small and medium-sized third-party payment platforms,it is unlikely to compete with industry magnates for online market.But they can borrow ideas from 99bill company and explore cooperation with large groups which enter into Internet financial market a litter later.