Business Innovation of Third-Party Payment in China

In China, the prosperous development of e-commerce, travel reservations and other industries drives the rapid growth of online payment. The business scale of China's third-party payment reached 1.0105 trillion RMB in 2010. But in order to survive, many enterprises of third-party payment adopt the strategy of low-cost, which leads to a long-term status of loss. In the market of third-party payment with similar services and single business model, innovation will undoubtedly convert into the key competitive power for success. Nowadays the strategy of centralized marketing target and the strategy of differentiation are more suitable for the third-party payment enterprises in China.