Development of Third Party Payment Industry and E-Commerce Payment System
Date Issued
2014
Date
2014
Author(s)
Tseng, Hsien-Kang
Abstract
In 1990s, internet service started to release to public domain, and it was rapidly widespread in the whole world. Many e-commerce giants, such as eBay, Amazon or Yahoo, opened online shopping malls, and they thoroughly overwhelmed the retail industry in these twenty years. In America, the online consumers used to provide their personal privacy for identity checking through the online credit card payment processing. However, the more online stores they visited, the more personal information unveiled on the internet. That’s why so many internet frauds popped up in online shopping. These circumstances gave PayPal a chance to provide collection and payment transfer services for online users to prevent credit card frauds in America. In 1999, PayPal started up the third party payment services for e-commerce industry, and provide secured transaction services for C2C online auction buyers. PayPal settles the dispute from buyers to sellers, and builds up the return policy for online shopping. The third party payment industry sustains the growth potential for e-commerce enterprises in 2000s. Compared with PayPal, Alipay was established in 2004 for the development of e-commerce ecosystem of Alibaba Group. Theoretically, Alipay reconstituted the business strategy of PayPal and embedded distinct deployments in terms of the macroeconomics conditions in China. After financial tsunami, many industries in China suffer serious overcapacity problem resulted from 4 trillion economic stimulus program during the period 2009~2010. Many non-performing loans tried to refinance through shadow banking system, and this phenomenon led to the spur in Shibor rate in 2013. Alipay grabbed the chance, and released Yu’E Bao (Money Market Fund) services. Yu’E Bao drove the profit from interbank deposit appraised by Shibor rate. Moreover, Alibaba applies the banking license in 2014, and aims to provide online wealth management for those who are not capable to acquire financial services from conventional bank. All the evidences show that Alipay try to carve out a tailored business strategy different from PayPal, and this master thesis contributes to the analysis on the evolvement of third party payment industry.
Subjects
第三方支付
行動支付
行動銀行
財富管理服務
PayPal
支付寶
餘額寶
Type
thesis
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