Research on the influence of China Nets Union Clearing Corporation on third-party non-interest payment business

Since the People's Bank of China advocated the implementation of the China Nets Union Clearing Corporation Platform, third-party payment institutions began to transform their business and developed non-interest business. Based on the data of 14 months of iResearch, this paper studies the factors of the non-interest business of third-party payment institutions through fixed effect panel regression, and concludes that the influence of China Nets Union Clearing Corporation on the business of third-party payment institutions is positive spillover effect. The impact on smaller third-party payment institutions is more significant. According to this conclusion, the paper puts forward the coping strategies and development ideas of third-party payment institutions.