To What Extent Has Online Payment Influenced the Development of FinTech among Chinese Commercial Banks?
- https://doi.org/10.2991/aebmr.k.220307.227How to use a DOI?
- FinTech; Online Payment; Commercial Banks
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.
- © 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 -