Third-party Online Payment Research Articles

Impacts of bitcoin on monetary system: Is China's bitcoin ban necessary?

This paper examines the impacts of Bitcoin price growth (BPG) and Bitcoin volatility (BV) on China's monetary system indicated by inflation rates (INF), real exchange rates (RER) and money velocity (MV) based on the GARCH models using Bitcoin data from 2013 to 2019 to evaluate the necessity of China’s Bitcoin ban. The empirical results suggest that BPG has a significant negative impact on INF and MV, but is insignificant for RER. While the BV is insignificant for all three monetary aggregates. Consistent evidence is found from additional tests including the alternative model specifications, subperiod analysis and adding up third-party online payment as another control variable for money velocity. Our study focuses on the period without the sweeping ban of cryptocurrencies in China, which provides support for researchers and financial advisors when forecasting inflation or money velocity in other areas without legal-bans but having a relevantly crypto-skeptical attitude, and also for authorities in shaping and implementing relevant monetary policies.

Research on Legal Issues of Consumer Rights and Interests Protection in Online Third-Party Payment

Research on Legal Issues of Consumer Rights and Interests Protection in Online Third-Party Payment

Legal Risks and Solutions in the Context of Third-Party Online Payment

Legal Risks and Solutions in the Context of Third-Party Online Payment

Impact of third-party online payment systems on trade, export, import, and internet retailing

<p style="text-align: justify;"><span style="font-family: 'times new roman', times, serif; font-size: 14pt;">This study estimates the impact of third-party online payment systems on trade, export, import, and Internet retailing in China. Also, the study examines the financial development mechanism via which third-party payment affects trade, export, import, and Internet retailing in China. By employing a sample of 31 provinces in China covering 2011 to 2018, the findings indicate that, third-party payment drives China’s trade (0.43%), export (0.42%), import (0.47%), and Internet retailing (0.24%). The study also finds that third-party payment complements financial development to positively affect trade, export, import, and Internet retailing in China. The study recommends policymakers promote third-party payment development in China to boost trade, export, import, and Internet retailing.</span></p>

Clustering Based on Kolmogorov–Smirnov Statistic with Application to Bank Card Transaction Data

Abstract Rapid developments in third-party online payment platforms now make it possible to record massive bank card transaction data. Clustering on such transaction data is of great importance for the analysis of merchant behaviours. However, traditional methods based on generated features inevitably lead to much loss of information. To make better use of bank card transaction data, this study investigates the possibility of using the empirical cumulative distribution of transaction amounts. As the distance between two merchants can be measured using the two-sample Kolmogorov–Smirnov test statistic, we propose the Kolmogorov–Smirnov K-means clustering approach based on this distance measure. An approximation step is conducted to ensure the feasibility of the proposed method even for large-scale transaction data, and the associated theoretical properties are investigated. Both simulations and an empirical study demonstrate that our method outperforms feature-based methods and is computationally efficient for large-scale data sets.

Grey–Lotka–Volterra model for the competition and cooperation between third-party online payment systems and online banking in China

In China, online banking and third-party online payment systems have a special relationship in which cooperation and competition co-exist. Quantifying the degree of competition and collaboration between them and predicting their future development trends will help to achieve a win-win situation. This paper uses the Lotka–Volterra model to quantitatively analyse and predict the impact of commercial banks’ online payment systems on the development of third-party online payment systems. The predator is an online bank, and the prey is a third online payment system. In the modelling process, the continuous model is discretized by using the grey theory. To improve modelling accuracy, a background coefficient is introduced. The parameters of the model are estimated by the least-squares method, and the Grey–Lotka–Volterra model for fitting the relationship between third-party payment and bank competition and cooperation is obtained. This paper empirically analyses quarterly transaction volume data for online banking and third payment. The results show that before 2011, the relationship between the two is more inhibition than cooperation, and the inhibition of online banking on third-party payment transactions is more significant than the third payment reaction. Only by strengthening cooperation can they win-win; the growth rate of third-party online payment transactions is more durable than that of online banking, but the market share is lower than that of banks; after 2011, the inhibition of third-party payment by banks is more significant than that of online banking. Compared with the period before 2011, this use decreased from inhibition to cooperation, and the growth of the overall turnover of the two plays a role in improving their development.

Foreign Students’ Intention towards a China’s Third Party Mobile and Online Payment Platform Based on Alipay

As the times progressed, so many features of smartphones that are developed by producers in manufactures. Hardware and software are fused to deliver comfort and increase the productivity of users’ smartphone. The example of software that can help users for a convenient transaction is Alipay and Wechat Pay, a China’s third-party mobile and online payment platform developed by Alibaba Group and Tencent respectively. This research aimed to observe ex-pats’ motives in the use of a Chinese third-party online payment platform with the sample was some foreign students in Nanjing as the Alipay users. Based on Unified Theory and Acceptance and Use of Technology (UTAUT) which consists four key constructs (effort expectancy, performance expectancy, social influence, and facilitating conditions), the results found that behavioral intentions were significantly carried out by effort expectancy, performance expectancy, and facilitating conditions, while social influence factors were found to be insignificant.

China’s E-commerce Development and Its Implication

E-commerce is one of the main drivers of Chinese economic growth in not only metropolitan areas with convenient payment methods, but also rural areas with efficient logistics arrangements. Various third-party online payment methods and new festivals as well as information technology investments were introduced to stimulate e-commerce development. The Chinese government had raised the idea of encouraging various innovative ways of doing business and to incubate creative ideas online.

A new coupled ARMA-FGM model and its application in the internet third-party payment forecasting in China

PurposeWith the rapid development of e-commerce in China, the third-party payment system greatly improved the efficiency and volume of the entire trading market. The purpose of this paper is to put forward a suitable prediction model to analyse its development trend.Design/methodology/approachThe authors analyse internet third-party payments in China, taking into account online payment transaction values coupled with an ARMA model and the fractional grey model (FGM). First, the rolling FGM model is applied in order to characterise the trends of the transaction volume. The influence of the initial value change on the FGM model is analysed. The optimisation mean absolute percentage error (MAPE) model is constructed to determine the optimal translational values, the corresponding optimal accumulation order and optimal inverse accumulation order.FindingsThis paper uses China’s recent third-party online payment data to quantify its development trend. The authors find the coupling model suitable for the development trend of third-party online payment transaction. The results show that the model is suitable to quantify its development trend of China’s recent third-party online payment.Originality/valueConsidering the complex influence factors that lead to the third-party online payment volume data of time-varying grey feature, this paper combines the FGM with ARMA model to describe the development of third-party payment mode.

第三方网络支付平台C端市场竞争策略研究

结合双边市场理论和综合技术接受理论(UTAUT)，对第三方网络支付平台C端市场(个人用户市场)的竞争现状进行分析，构建结构方程模型(SEM)，研究个人用户使用第三方网络支付的影响因素。调查数据及实证结果表明：按照影响程度的大小，影响个人用户使用第三方网络支付的因素为绩效期望、社会影响、感知风险，其中感知风险存在负向影响，努力期望对绩效期望存在正向影响，网络效应正向影响努力期望与绩效期望。基于个人用户的使用行为和归属结构，从价格竞争、非价格竞争两个角度提出第三方网络支付平台在C端市场的竞争策略。 This paper analyzes the competition of third-party online payment in the consumer market and uses the UTAUT theory and the bilateral market theory to construct a structural equation model (SEM) for the analysis of influencing factors of individual users’ behavior toward third-party online payment. The questionnaires and data analysis show that the factors, ranked in accordance with influence degree, including performance expectancy, social influence and perceived risk, and meanwhile perceived risk have significant negative influence on behavioral intention. The performance expectancy is influenced by effort expectancy, and the network effect has positive influence on performance expectation and effort expectation. Based on the characteristics of users' behavior, relative competitive strategies of third-party online payment in the consumer market are put forward.

Reuse Intention of Third-Party Online Payments: A Focus on the Sustainable Factors of Alipay

An anonymous transaction environment and the advantage of virtual property have resulted in trust playing an important role in the rapid growth of online shopping in China. To satisfy this trust issue, Alibaba (China) Co., Ltd. (Hangzhou, China) invented Alipay, the largest third-party online payment service. Using a structural equation model (SEM), this paper attempts to determine whether Alipay’s service quality factors are truly sustainable. The results indicate that only two of five factors—convenience and security—are significantly mediated by the sustainable performance of customer satisfaction as a mediator. The other three factors—usefulness, responsiveness and economy—were rejected for the role of customer satisfaction, even if they are accepted regarding the direct effect on reuse intention. This result implies that Chinese web companies need to make greater efforts not to ensure initial success, but instead to ensure sustainable performance.

What are the sales practices of internet cigar vendors in China?

ObjectiveTo estimate the number of websites selling cigars in China and to examine their sales and marketing practices.MethodsComprehensive searches were conducted using three keyword terms and two popular internet search...