Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

To What Extent Has Online Payment Influenced the Development of FinTech among Chinese Commercial Banks?

Authors
Junang Lu1, *, Xiaoxiao Shen2, Yican Jin3, Weijia Ji4
1Lemania International School Altdorf, Altdorf Uri, 6460, Switzerland
2Ulink College of Suzhou Industrial Park, Suzhou, Jiangsu, 215000, China
3St. Michaels University School, Victoria, V8P 4P5, Canada
4Urumqi Bayi High School, Urumqi, Xinjiang, 830002, China
*Corresponding author: Email: 1652517917@qq.com
Corresponding Author
Junang Lu
Available Online 26 March 2022.
DOI
https://doi.org/10.2991/aebmr.k.220307.227How to use a DOI?
Keywords
FinTech; Online Payment; Commercial Banks
Abstract

With the rapid development of online payment platforms in China, this sector has impacted the returns and operations of traditional commercial banks in China. This paper investigates the impact of online payment platforms on Chinese commercial banks. First, this paper introduces FinTech and compares Online Banking and Online Payment. Next, the paper presents a list of developments in the online payment sector in China. Then, the paper constructs a trend chart using company earnings data to empirically examine the impact of online payment platforms on commercial banks’ deposits, returns on equity and returns on assets. Finally, the paper discusses the impact and outlook of the emerging payment instrument e-CNY on traditional commercial banks and the general environment in China. The results show that the development of online payment has a positive impact on the growth of commercial banks and a negative impact on the returns of Chinese traditional commercial banks. The paper has significant implications for Chinese commercial banks to reflect on themselves, reduce their reliance on traditional business, and improve their products and services.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
978-94-6239-554-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.220307.227How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Junang Lu
AU  - Xiaoxiao Shen
AU  - Yican Jin
AU  - Weijia Ji
PY  - 2022
DA  - 2022/03/26
TI  - To What Extent Has Online Payment Influenced the Development of FinTech among Chinese Commercial Banks?
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 1380
EP  - 1387
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.227
DO  - https://doi.org/10.2991/aebmr.k.220307.227
ID  - Lu2022
ER  -