Research On The Influence Of Third-party Payment On The Intermediary Business Of Commercial Banks In China

In recent years,third-party payments have developed rapidly in China,and its increasing scale not only makes people’s lives more convenient,but also affects the development of commercial banks.For commercial banks,with the deepening of the reform process of interest rate liberalization,the net interest margin of commercial banks has gradually decreased,and intermediate business has become a great source of profit for commercial banks.at the same time,third-party payment is becoming more mature,and its coverage of intermediate business of commercial banks is highly overlapping,and the impact on commercial banks is more significant,and commercial banks are an important pillar of the national economy,and their development affects the development of the national economy to a large extent.General Secretary Xi Jinping also attaches great importance to financial work,profoundly pointing out that finance is the bloodline of the real economy.In addition,high-quality financial supply is an important foundation for China to achieve modernization and high-quality economic development.In this context,it is of great significance to study the impact of third-party payment on the intermediary business of commercial banks.Firstly,this paper first reviews the domestic and foreign literature on the impact of third-party payment,commercial bank intermediary business,and third-party payment on the intermediary business of commercial banks,expounds the relevant theories of third-party payment and intermediary business,and studies the development status of intermediary business of third-party payment and commercial banks in China,the data shows that the transaction scale of third-party payment in China is growing rapidly,the overall income of intermediary business is on the rise,and state-owned banks account for nearly 60%,and the intermediary business income of urban commercial banks has the fastest growth rate.From 2013 to 2021,it expanded by about 9 times.Secondly,this paper selects 24 commercial banks in China as research objects,takes the scale of third-party payment as the core explanatory variable,the overall intermediate business income of commercial banks and the intermediate business income of each segment as the explanatory variable,the net interest margin as the intermediary variable,then establish models for empirical analysis.The results show that,first,third-party payment has a positive impact on the overall income of the intermediary business of the sample commercial banks and the intermediary business income of different types of commercial banks.Among them,the impact on joint-stock banks is the largest,and the city commercial banks is the smallest.Second,the net interest margin has an intermediary effect in the process of the impact of third-party payment on intermediate business.Third,third-party payment has a positive impact on agency business,bank card business and fund custody business,and has a negative impact on the intermediate business of payment and settlement business,guarantee commitment business and consulting business.Finally,recommendations are made to commercial banks based on the research results to promote the better development of banks.The first is to suggest different types of banks,state-owned banks should increase financial innovation,the shareholding system should continue to give full play to its advantages in financial technology,and city commercial banks should tap the advantages of local customers and strengthen investment in science and technology and talent introduction.The second is to make suggestions on the intermediate business that has an impact on third-party payment,mainly to strengthen cooperation with third-party payment,strengthen innovation and innovation,and absorb relevant professionals.There are three innovative points in this paper: First,the intermediary business of commercial banks is subdivided to better understand the impact of third-party payment on the intermediary business of banks,and provide a certain basis for banks to adjust their business strategies.Second,taking the net interest margin as an intermediary variable,explore whether third-party payment will affect the intermediate business of commercial banks by affecting the net interest margin.Third,this paper adds the scale of banking development as a control variable to exclude the impact of banking development on intermediate business.