In the era of digital economy, the digital transformation of the payment industry has become a general trend. However, digital transformation can bring development opportunities to the payment industry, but it also faces some challenges. Blockchain technology is regarded as the key core technology to support the future development and application of the Internet. The development of blockchain has become the focus of financial technology. Its decentralization, simple process, openness, transparency, and non-tampering characteristics can effectively solve traditional payment problems. problems existing in. It is precisely because of the characteristics of decentralization that the payment method is more information symmetric and transparent, which greatly improves the security of the transaction process. Commercial banks use the blockchain consensus mechanism to ensure that the data of the platform, upstream and downstream, and other participants reach a consensus across the entire network to ensure information symmetry and transparency; the secure interaction of information is achieved through encryption algorithms, which solves the possibility of information being tampered with; blocks The timestamp feature of the chain ensures the integrity of historical data. This topic is based on the research on the role of blockchain technology in the digital transformation of the payment industry. It is mainly used in the following three aspects:1.This technology has the intelligent features of payment settlement and fund management. Ensure the safe interaction of transaction information by improving payment efficiency and the security of fund transactions. 2.This technology has the characteristics of high efficiency and low cost. It efficiently and low-costly obtains true and reliable data in the system, optimizes the credit creation mechanism, forms a new trade financing model, and effectively reduces financing risks. 3.This technology has safe and low-risk characteristics. Improve the level of data governance, improve the intelligence level of KYC, risk control strategies, and anti-money laundering, and reduce the risks of both banks and the industrial Internet.