China’s Online&Mobile Payment Development
2 min readChina’s Online&Mobile Payment Development
Along with the fast-progressing Internet and mobile network in recent years，various kinds of e-commerce emerged，which makes people’s life more convenient andcolorful.Online payment and mobile payment，being incentive to further development of e-commerce，will become the main payment means of e-commerce by and by.
According to business mode，online payment can be divided into pre-payment，agency payment，online banking payment and online platform payment.Of which，online platform payment undertaken by online payment platform operator，being an third-party economic entity independent from bank and SP，acts as the role connect users，banks and SPs.
The domestic online payment is mainly based on the debit card system.Thus，risks in online payment can be controlled effectively.But meanwhile，the profit of domestic payment service is also quite low，only taking 0.5%of total trading volume.
Nowadays，the industrialization of mobile payment application emerges as handsets gradually replace cash and credit card in the payment of some shops and automatic seller machines.At present，bank card circulation and handset users have increased to over 0.76 billion and 0.3 billion respectively in China，offering boundless commercial opportunities for the development of mobile payment industry in China.With the prevalence of mobile content and application charges based on SMS，mobile payment has been accepted by and by.However，in-depth applications of mobile payment still need to be cultivated.
Currently，there are five access methods of mobile payment:STK，IVR（Interactive Voice Response），USSD，WAP and wWW.Of which，IVR，STK and WWW are mainly adopted.
The Forms of Mobile Payment Business
Mobile payment business mode has four categories:mobile paying service，mobile wallet service，mobile banking service and mobile credit platform.The former three have been practically applied.
Abide by different roles，mobile payment industrial chain can be divided into three categories:mobile operators-based industrial chain，bank-based industrial chain and the one led by mobile payment operators.The cooperation of mobile operators and banks，with mobile payment platform operated by professional companies，can avoid inherent obstacles in information security，product development and resource sharing，etc.when third-party payment platform providers join in.Also it can realize the sharing and management of financial information service and banks’intermediate businesses；and satisfy to the maximum the great demand of users for mobile payment service and information security.Thereby，it is the most suitable business mode for mobile payment development in China.
