What impact has third-party payment had on the financial industry?

Third-party paymentas a new model of Internet financial innovation, due to its simple operation, low cost, efficient and convenient characteristics, the number of its users climbed dramatically, the market transaction size rose exponentially.

Third-party payment reduces the profitability of commercial banks in the short term, and has no significant impact in the medium and long term; third-party payment reduces the capital adequacy ratio of commercial banks in the short and long term, and improves it in the medium term; third-party payment reduces the liquidity of commercial banks in the short term, and has no significant impact in the medium and long term; third-party payment has very little impact on the level of credit risk of commercial banks in the medium and short term, but in the long term, it has little impact on the level of credit risk. Third-party payment has little impact on the level of credit risk of commercial banks in the short term, but in the long term, it exacerbates the credit risk of commercial banks.