Research On The Influence Of Third Party Payment On Intermediary Business Of Commercial Banks

In recent years,driven by the information technology of the world wide web.The third party payment industry has developed rapidly.Through its innovative products and personalized services,it has continuously penetrated into the traditional intermediary business of commercial banks.The operation and development of intermediary business of traditional commercial banks are facing this huge pressure from market competition.How to deal with the development issues brought by third-party payment is important to commercial banks.This paper will use the data of China’s mainstream commercial banks from 2014 to 2021 to study the impact and mechanism of the third-party payment industry on the intermediary business of commercial banks.Based on literature research and empirical analysis,this paper reviews the previous studies on Internet third-party payment.The main conclusions are as follows:(1)The total scale of third-party payment transactions,information transmission software and enterprise climate index of information technology service industry will have a negative impact on the intermediary business of commercial banks,especially with the development of the new generation of information technology,it may have a more far-reaching impact in the future;(2)The prosperity index of China’s commercial banks,China’s economic aggregate and the total operating income of commercial banks will have a positive impact on the intermediary business of commercial banks.According to the analysis in this paper,commercial banks should adjust their strategies timely according to different periods.Specific policy suggestions are as follows:(1)Take advantage of the large size of commercial banks to actively promote digital RMB;(2)Attract technical talents from third-party payment platforms to develop digital RMB;(3)Enhance the competitiveness of digital RMB by improving hardware equipment and software system;(4)Promote digital RMB and capture the market share of third-party payment.