Study On The Effect Of The Third-Party Payment On The Liquidity Of China's Commercial Banks

In 2000,the rise of e-commerce,the word C2 C appeared in magazines and newspapers.In 2003,Alibaba launched the secured trading platform Alipay,which promoted online trading.In 2010,fast payment came into being.It used the payment interface designed by the bank for the payment institution,so that users could complete the payment without opening the online banking,which greatly improved the payment efficiency and laid a solid foundation for the transfer of payment habits to the mobile terminal.In 2011,the People's Bank of China incorporated major third-party payment institutions such as Alipay and Tenpay,into the retail payment service market surveillance system,and issued the “Payment Business License” to implement a series of regulatory guidance measures for mobile payment services.China's payment service market has begun to develop at a high speed and the payment business has been moving toward mobile and real-time.Since the reform and opening up,China's payment industry has developed vigorously,constantly improving its scale and its influence in the international arena.Along with the rapid development of bank payment business outsourcing,more non-bank institutions have entered the payment service market.Third-party payment has gradually become one of the major payment intermediaries and credit intermediaries after rapid growth,and at the same time it has brought great challenges to the liquidity management of large commercial banks.The scale of third-party payment is expanding,and the management and policy formulation of current commercial bank liquidity need to consider its impact.Based on Keynesian money demand theory,this paper analyzes the impact of third-party payment on the liquidity of large commercial banks from the perspective of liquidity preference motivation.Establish models and conduct empirical tests to classify third-party payments into mobile payments and non-mobile payments,using time series and panel models to analyze long-term impacts.Pulse analysis is used to compare the impact of tpp on different influencing factors,and the similarities and differences between the third-party payment and other influencing factors are obtained.This paper believes that third-party mobile payment has short-term and long-term effects on the liquidity of commercial banks,and its impact works effectively.Regulators and commercial banks themselves need to pay attention to this impact mechanism and incorporate third-party payment scale into the monitoring system to better understand liquidity.Commercial banks should pay attention to the competition of third-party mobile payment and use the wave of financial technology advancement to enter the payment market.