The Impect Of Third-party Payment Platform Business On Intermediary Business Income Of Commercial Banks

In recent years,due to the rapid development of Chinese e-commerce and the endless stream of e-commerce,the third-party payment platform has been given the opportunity to develop rapidly,and the scope of business continues to expand.Consumers then have higher requirements on the standard and level of payment means,especially in the aspects of its safety,speed and convenience.As a result,the third-party payment enterprises represented by Alipay,wechat and Tenpay also emerge at the historic moment to solve the diversified needs of the current market.After more than ten years of development,the third-party payment platform,business also gradually mature,the main form of payment,including the Internet and mobile payment,but are not limited to provide consumers with simple pay channels,and expand the scope of business,such as payment and settlement,finance and investment,network business,such as credit and credit payment to meet the diverse needs of consumers.In the financial and economic system in our country,commercial Banks as the main transmission of monetary policy in our country,the adjustment of the national economy,has been occupying a pivotal position,the third-party payment platform business though started late,has expanded rapidly in recent years,appeared a variety of growth,so this is also reversed transmission traditional commercial Banks constantly updated payment settlement way.Compared with the mature development mode of foreign countries,the middle business of Chinese commercial banks still has a great distance,whether the scale or quality,so the space for development is broad.Due to the development of intermediate business,the importance of various types of commercial banks including state-owned commercial banks,joint-stock banks and city commercial banks is increasing day by day.When the business scope and target customers of the third-party payment platform overlap with commercial banks,the two have formed a situation of competition with each other.With the development of the Internet,the third-party payment platform has the characteristics of convenience and low commission fee when conducting small payment business,and has accumulated a wide range of user base.Through this business,the bank card business of commercial banks has been crowded out.Secondly,after obtaining the fund sales license,the third-party payment platform attracts many users with the characteristics of low threshold,rapidly squeezing the financial services of commercial banks.Finally,the third-party payment platform has accumulated a large amount of funds in the process of operation,and according to the provisions of the central bank,it must deposit the provisions in the accounts of commercial banks,so the income of the custody business of commercial banks’ intermediate business increases.But through what channels does the third-party payment platform affect the intermediary business of commercial banks? Is the impact on different types of commercial banks different?In view of the above problems,this paper conducts empirical verification after studying the theoretical mechanism,and overall discusses the impact of the third-party payment platform business on the intermediary business income of commercial banks.Firstly,this paper analyzes the current situation and development history of the third-party payment platform,as well as the classification and current situation of commercial banks’ intermediate business,and compares the relative advantages of the development of the third-party payment platform and commercial banks.Secondly,this paper studies the direction and degree of the influence of the third-party payment platform business on the intermediary business and each segment business of commercial banks.At the same time,three hypotheses are proposed after finding the internal path of the impact.Thirdly,through the establishment of econometric model and empirical analysis,the influence of the third-party payment platform business on the overall intermediate business and its subdivision business of commercial banks is discussed.Then,by sorting out the relevant indicators of 9commercial banks from 2010 to 2020,this paper empirically analyzes the influence of the third-party payment platform on the intermediary business of commercial banks through the influence path of e-banking.After testing,it is found that this influence path does exist.That is,the third-party payment platform takes advantage of its own advantages to distribute bank customers and occupies the users of the online banking channel of commercial banks through the characteristics of low price and convenience,which reduces the income of the intermediary business of banks.In the empirical analysis,it is also found that the third-party payment platform will have different effects on different types of commercial banks through the e-banking channel.Based on the above research,this paper draws conclusions and puts forward suggestions for banks to optimize their services and strengthen their business construction.