基于双边市场理论的第三方支付平台定价及监管研究

发布时间：2018-07-15 18:26

【摘要】：随着互联网技术和电子商务的蓬勃发展,我国企业和个人的网上交易额日益上升,而作为独立于电子商务平台、单独提供资金结算服务的机构,第三方支付产业也得到迅猛发展。经过长达十多年的发展,我国的第三方支付产业已形成相对稳定的多种发展模式,其中,银行卡收单和互联网支付占据较大比重。当下,第三方支付企业虽已进入后牌照时代,但仍面临着日益加剧的业内竞争。银联对线上平台开展线下业务的全面狙击,迫使以支付宝为首的众多企业纷纷放弃进一步发展线下业务的计划。与此同时,境外支付机构一直在谋求挤入中国第三方支付市场,试图取得支付许可证。第三方支付产业一直在竞争中不断谋求发展,传统业务和创新业务齐头并进,通过第三方支付平台发生的互联网电子支付笔数和金额屡创新高。繁荣发展必然伴随着潜在风险,第三方支付产业逐步暴露出巨大的风险性,这促使着监管部门及时制定相关监管政策。我国第三方支付产业的监管从起步阶段就滞后于发展进程,近几年,人民银行及政府监管部门加快监管政策的出台,加大政策实施力度,以期第三方支付产业步入规范化发展道路。本文从上述两个方面对我国第三方支付产业做出简单分析。首先,本文对将要应用的双边市场理论做出简单阐述,总结出判定是否属于双边市场的三大特征：市场参与者之间的相互关系、复杂的网络外部性以及双边平台是外部性内部化的最优选择。然后,通过梳理第三方支付产业的发展脉络,归纳出该产业的显著特征,表现出明显的双边市场特性。其次,本文进一步运用双边市场理论,对第三方支付产业进行深入剖析,主要是通过构建关于第三方支付产业的双边市场模型,并通过该模型分析第三方支付平台的定价机制选择及监管下的行为选择问题。在分析定价机制时,本文以支付宝(中国)网络技术有限公司为例,对理论模型的假设及结论进行验证。最后,在双边市场理论视角下,分析人民银行现有监管措施的有效性及可实施性,并为监管部门未来的政策制定给出相应建议。创新之处在于将双边市场理论引入第三方支付平台的分析,不论是从定价角度还是监管政策方面。就第三方支付平台定价机制而言,本文把握了第三方支付产业的双边市场特征,并充分结合我国第三方支付平台的发展现状,构建了符合我国现实的第三方支付平台定价模型,模型中考虑了该产业的复杂网络外部性,通过对现代产业组织理论的合理运用,一定程度上揭示了第三方支付产业的定价机制和内在运行机理,以期对中小型平台具有参考价值。第三方支付产业的双边市场特性同时为市场监管机构的政策制定指明了方向,本文的分析可在一定程度上为其提供理论基础。
[Abstract]:With the rapid development of Internet technology and electronic commerce, the amount of online transactions of enterprises and individuals in our country is increasing day by day. Third-party payment industry has also been rapid development. After more than a decade of development, China's third-party payment industry has formed a relatively stable variety of development models, in which bank card payment and Internet payment account for a large proportion. At present, third-party payment enterprises have entered the post-license era, but still face increasing competition in the industry. UnionPay's full sniper attack on offline services on online platforms has forced many companies led by Alipay to abandon plans to further develop offline businesses. At the same time, foreign payment agencies have been seeking to squeeze into China's third-party payment market, trying to obtain payment permits. The third party payment industry has been constantly seeking development in the competition, traditional business and innovation business go hand in hand, through the third party payment platform, the number and amount of electronic payment on the Internet has repeatedly reached a new high. Prosperity and development will inevitably be accompanied by potential risks, third party payment industry gradually exposed a huge risk, which prompted the regulatory authorities to formulate relevant regulatory policies in a timely manner. The supervision of the third-party payment industry in China has lagged behind the development process from its initial stage. In recent years, the people's Bank of China and the government regulatory authorities have accelerated the introduction of the regulatory policy and intensified the implementation of the policy. With a view to third-party payment industry into a standardized development. This paper makes a simple analysis of the third-party payment industry from the above two aspects. First of all, this paper makes a brief exposition of the bilateral market theory to be applied, and summarizes the three characteristics of judging whether it belongs to the bilateral market: the relationship between the market participants and the market participants. Complex network externalities and bilateral platforms are the best choice for internalization of externalities. Then, by combing the development of the third-party payment industry, we conclude the remarkable characteristics of the industry, showing obvious bilateral market characteristics. Secondly, this paper further analyzes the third-party payment industry by using the bilateral market theory, mainly through the construction of the bilateral market model of third-party payment industry. Through this model, the pricing mechanism of third-party payment platform and the behavior selection under supervision are analyzed. In the analysis of pricing mechanism, this paper takes Alipay (China) Network Technology Co., Ltd as an example to verify the hypothesis and conclusion of the theoretical model. Finally, from the perspective of bilateral market theory, this paper analyzes the effectiveness and implementability of the existing supervision measures of the people's Bank of China, and gives corresponding suggestions for the future policy formulation of the regulatory authorities. The innovation lies in the introduction of bilateral market theory into the analysis of third-party payment platforms, whether from the perspective of pricing or regulatory policy. As far as the pricing mechanism of third-party payment platform is concerned, this paper grasps the bilateral market characteristics of third-party payment industry, and fully combines the development of third-party payment platform in our country, and constructs a pricing model of third-party payment platform in accordance with the reality of our country. In the model, the complex network externalities of the industry are considered, and the pricing mechanism and internal operating mechanism of the third-party payment industry are revealed to a certain extent through the rational application of the modern industrial organization theory. With a view to medium and small platform reference value. The bilateral market characteristics of the third-party payment industry also point out the direction for the policy formulation of the market regulators. The analysis in this paper can provide a theoretical basis for the third-party payment industry to a certain extent.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F724.6;F832.2

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