Third party payment accelerates bank credit card marketing innovation

Against the backdrop of severe challenges to the global financial system, China's banking industry has maintained a steady and rapid development. Credit card as a late start of the development of our bank business, in improving the efficiency of settlement, improve the people's consumption level. Data show that, as at the end of the fourth quarter of 2009, the national cumulative issuance of credit card issued 185.5556 million, an increase of 30.4% per cent, the future still has a broad space for development. On the other hand, the current Chinese credit card market, homogeneous competition is still fierce and facing the impact of foreign banks, the need for transformation.　　Under this background, with the development of electronic commerce (electric power channel), especially the popularization of online consumption, the online application of credit card is paying more and more attention to the market. Recently held in Shanghai, "China credit card cardholder Panorama" Report conference-and credit card excellent marketing case seminar. At the meeting, famous financial experts and scholars and top five commercial bank executives gathered to discuss the innovation of credit card marketing.　　Dr. Liu Shengjun, deputy dean of the Institute of International Finance, China-Europe Lujiazui, gave a speech on the competition strategy in the credit card market during the transition period. Chinese credit card users in the overall credit card user, the proportion of close to 60%, suggesting the future of the network of credit card users development trend. Online payment is undoubtedly another profit growth point of bank credit card. Then, online Banking payment in addition to the need for more innovative functions and services, but also the need for comprehensive risk control and security services, only by the bank itself is not able to fully open online payment market. In these respects, the third-party payers are able to supplement the ability of the banks. The existence of third-party payment enterprises is cooperation rather than competition for banks. Third party payment companies involved in credit card online payment business, can reduce the related operating costs of banks, greatly speeding up business processing speed, not only convenient for customers, but also conducive to the further expansion of bank credit card business. With the development of economic globalization, the development of third-party payment market and the integration of resources will continue to accelerate.　　Third party payment itself development also needs to form three-dimensional innovation product, carries on "many business, many banks, multi-channel" service innovation, and the bank business has the mutual support function. Because of the complementarity of the business, banks have become more and more broadly based on credit card marketing and payment vendors. In addition to online shopping transactions, credit card online payment function has extended to the air tickets, online games, education, life services and other market areas. These have saved a lot of social resources for banks, postal services and public institutions, and have also spawned more and more emerging online financial services for banks. At the same time, to the IPs led the domestic several leading Third-party payment platform, have launched a credit card across the bank repayment, credit card payment and credit card payments and other business, resulting in the card, mobile card, consumption, repayment, one-stop service of the complete online payment chain.　　This is a positive stimulus to the full mobilization of bank credit card consumption. The progress of China's banking industry after the Asian financial crisis, says Dr Liu Shengjun, an IPS consultantHuge, the current non-performing loan rate fell to 2.5%, capital adequacy ratio and standard assets accounted for a huge leap. However, in 2009, the proportion of credit card was not repaid more than 2008, the extensive development of credit card market is leading to lower credit card quality, which translates into the risk of bank non-performing asset rate rising. Banks face excessive credit, poor international economic situation, lack of brand recognition and effective customer shortage. At present, China's big city cardholders account for 30% to 40%, while the international holding rate is more than 50%. According to the current assessment mechanism, market conditions, China's credit card development is still in the extensive stage of development.　　Correspondingly, rapid growth like these years will slow. In the face of these problems, Dr. Liu Shengjun that in recent years, electronic transactions have grown alarmingly, and the internet has become a part of young people's lives.　　Electronic payment as the capital flow hub of electronic transaction plays an increasingly crucial role in the whole economic environment, especially with the popularization of credit card online payment and the rise of mobile payment, in the innovative application of credit card business, banks need to support and assist with the third party payment industry to solve the above problems. After the financial crisis, the layout of the global financial sector is quietly changing, Shanghai, China as a new international financial center is emerging. For the financial industry, credit card business, especially the online payment channel, has become an important part of the growth of bank interest. From the macroscopic point of view, with the development of market economy, its role in promoting consumption and stimulating domestic demand will be further expanded. Therefore, it is very important and far-reaching to improve the structure of bank credit card product, expand consumption credit and cultivate social Credit level to promote credit card marketing innovation on the basis of cooperative third party payment.