Research on the Impact of the Development of Third-Party Payment Platforms on Commercial Banks

DOI

10.2991/aebmr.k.220307.343How to use a DOI?

Keywords

the third party payment platform; traditional banks; Internet finance; influence; corporate strategy

Abstract

With the rapid development of technological products in the information age, mobile phones, computers, and other mobile devices have become indispensable communication tools in our lives. At the same time, electronic commerce has made consecutive progress and innovation, and electronic payment has mostly replaced traditional cash transactions. Therefore, the status and role of third-party payment platforms in the economic market are becoming more and more important. Nevertheless, flourishing development of third-party payments inevitably brings some influences on commercial banks. Firstly, this article will introduce background information, business model and current development status of both third-party payment platforms and commercial banks. Then, the article will elaborate on the advantages and drawbacks of third-party payments. After that, the article will analyze the impacts to commercial banks from intermediate services, asset businesses and liability business. Finally, the paper will put forward suggestions for the future development of commercial banks in the era of Internet finance based on the actual situation of China, and try to provide some solutions to their future collaboration. This research provide more proofs to identify the influences brought by third-party payments platforms, also encourages traditional commercial banks to find the optimum approach to improve its business volume.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Ke Ren
PY  - 2022
DA  - 2022/03/26
TI  - Research on the Impact of the Development of Third-Party Payment Platforms on Commercial Banks
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 2095
EP  - 2100
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.343
DO  - 10.2991/aebmr.k.220307.343
ID  - Ren2022
ER  -