Electronic payment uses advanced technology to complete information transmission through digital circulation, and all payment methods are digital. The traditional payment method is to complete the payment through the circulation of cash, the transfer of bills and the exchange of banks.
The working environment of electronic payment is based on an open system platform (Internet). However, traditional payment is operated in a relatively closed system.
Electronic payment uses the most advanced communication means, such as Internet and extranet; . Traditional payment uses traditional media. Electronic payment requires high hardware and software facilities, and generally requires networked microcomputers, related software and other supporting facilities; Traditional payment is not so harsh.
Electronic payment has the advantages of convenience, quickness, high efficiency and economy. As long as users have a PC with Internet access, they can complete the whole payment process in a short time without leaving home. The payment fee is only a few tenths or even a few percent of the traditional payment.
Payment process and payment tools
The payment process includes the initiation of payment, the exchange and settlement of payment instructions and the settlement of payment.
Liquidation refers to the process of sending, reconciliation and confirmation of payment instructions before settlement, and may also include the write-off of instructions.
Netting refers to hedging various balances or debts between trading partners or participants to produce the final settlement balance.
Settlement refers to the settlement of debts related to payment transactions by two or more parties.
Strictly speaking, liquidation and settlement are different processes, and the purpose of liquidation is settlement. However, in some financial systems, there is no strict distinction between liquidation and settlement, or both occur at the same time.
Payment transactions can be initiated by paper or electronic payment tools.
Some payment instruments can be started by paper or electronic means. For credit transfer, you can fill in the documents at the bank counter, sign/seal to authorize payment, or use the online banking function to electronically authorize initiation; For example, a bank card can be authorized by signing on paper, or initiated by swiping a card and password at a terminal (POS/ATM).
Payment transactions can be conducted through a combination of paper steps and electronic steps. For example, checks can be intercepted and processed electronically. The different location and time of interception (such as at POS or trading center) reflects the different degree of electronicization.
Payment transactions can also include cash and non-cash steps, such as the payer initiating remittance with bank deposit and the payee withdrawing cash.
electronic payment
The electronicization and innovation of payment have experienced the development process from the back end to the front end. The application of background IT system and telecommunication network in banks enables the electronic recording and preservation of monetary claims, and realizes the electronic processing of inter-bank payment clearing and settlement. The reform at this stage is hardly noticed by the public.
The innovation of bank front-end payment tools and channels has brought tangible convenience to consumers. The maturity and popularity of ATM/POS, payment cards, Internet, mobile phones and set-top boxes have greatly changed the interaction between banks and customers, consumers and businesses. Saving cost and improving efficiency are the main driving forces of innovation. At the same time, the electronic degree of each link in the payment transaction process is getting higher and higher. Theoretically, information and telecommunication technology enables the whole payment process to be processed automatically by electronic means.
2005 is called the first year of electronic payment in China. This year, the electronic payment market in China grew rapidly, many electronic payment laws and regulations were improved, and electronic payment in China achieved a leap-forward growth. In 2006, the electronic payment industry still maintained rapid growth, and the emergence of online payment, mobile payment, telephone payment and other payment forms accelerated the development pace of the whole industry. In enterprise business settlement, the utilization rate of electronic payment is higher than other forms of transaction settlement, which has exceeded 60% in some enterprises. Traditional forms such as cash on delivery, postal remittance and bank wire transfer still have some loyal users, accounting for 39.4%, 12.3% and 6% respectively.
In the first quarter of 2007, the transaction volume of the third-party payment market in China reached 654.38+0.6 billion yuan, an increase of 33.3% from the previous month and more than four times that of the same period in 2006. In the second quarter of 2007, in the third-party electronic payment market in China, Internet payment (non-independent) reached114 million yuan, Internet payment (independent) reached 5.205 billion yuan, third-party mobile phone payment reached 339 million yuan, and third-party telephone payment reached 76 million yuan. In the third quarter of 2007, Alipay ranked first with a market share of 47. 10%, Tencent Fortune ranked second with a market share of 18.00%, and China UnionPay Electronic Payment ranked third with a market share of 13.30%. In the fourth quarter of 2007, the total transaction volume of the third-party electronic payment market in China has reached 22.924 billion yuan. In the third-party electronic payment market, Alipay, Chinapay and Tenpay rank among the top three in transaction volume.
In 2008 1 quarter, the total transaction volume of the third-party electronic payment market in China has reached 45.467 billion yuan. Among them, Internet payment reached 465.438+75.9 million yuan, third-party mobile payment reached 3.52 billion yuan, and third-party telephone payment reached 65.438+88 million yuan. In the second quarter of 2008, it reached 53.989 billion yuan, a year-on-year increase of 65.438+09%. Among them, Internet payment reached 50.5/kloc-0.20 billion yuan, third-party mobile phone payment reached 32.8/kloc-0.00 billion yuan, and third-party telephone payment reached/kloc-0.96 billion yuan.
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