| Summary: | 碩士 === 國立臺灣大學 === 財務金融組 === 104 === Third-party payment has been a popular topic in recent years, and the regulations for third payment are finally implemented in May 2015. Before the enactment, banking institutions and non-financial institutions devoting in internet virtual account for online deposit along with non-financial institution conducting funds transfer service based on non-real transactions lacked legal basis. Eventually, under ardent expectations, and for the better off in payment services, “The Act Governing Electronic Payment Institutions” (hereby called, “the Act”) has finally been formulated.
The main subject of the Act includes specialized electronic payment institutions and dual-status electronic payment institutions. Banking industry had always taken a part as dual-status electronic payment institutions offering payment services. However, as the Act is implemented, the payment services will no longer be banking institutions’ specialty. The institutions offering new e-payment tools with many e-commerce opportunities will inevitably impact the banking institutions.
This study will discuss the representative third-party payment institutions, United States’ PayPal and China’s Alipay, by inquiring into their business models, and using China’s Alipay as reference to discourse its coopetition relationship with the banking industry. Thereby the future impact of third-party payment model to banking industry in Taiwan and their coopetition relationship could be examined as well. Reviewing on the Act and related law is to understand the government’s supervision on electronic payment institution. Finally, the banking industry’s future developments for electronic payment services are summed up.
With the enactment of the Act, various electronic payment institutes will introduce different newly developed electronic payment services to attract consumers. The development could help strengthen Taiwan’s electronic payment industry instantly to catch up with the globalize progress, nurture Taiwan’s localization e-payment services, and flourish the e-commerce industry.
As for the banking industry, the newly enacted Act allows non-financial institutions to enter the payment market, which certainly will cut down the banking industry’s profit in the payment service performances. However this new policy could also bring out new variety of business models, introducing innovative financial services. In addition, every payment connects the consumer’s lifestyle with the big data developed that makes the banking industry maximize the potential of data value behind each transaction, innovating commercial opportunities.
To sum up, this study aims to analyze the banking industry’s development strategies after the enactment of the Act— e.g., organizational restructuring, talent construction, and horizontal alliances. Electronic payment service’s upcoming development trends— e.g., developing local O2O market, cross-border O2O market, convergence business models for complementary strengths, banking industry’s intense competition that makes the big ones get bigger, etc.
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