开放还是封闭：基于利润比较的支付平台转型策略研究  

To be Open or Closed: Transition Strategies for Payment Platforms Based on a Comparison of Profit

作　　者：傅联英[1] 骆品亮[2] 

机构地区：[1]华侨大学经济与金融学院,福建省泉州市362021 [2]复旦大学管理学院产业经济学系,上海市200433

出　　处：《南方经济》2016年第3期36-53,共18页South China Journal of Economics

基　　金：国家社科基金青年项目“我国支付清算市场定价机制创新与改革研究”(项目编号:14CGL009);国家自然科学基金项目“支付卡网络交换费定价的多方利益博弈及其福利效应与激励性规制研究”(71072005);福建省自然科学基金计划资助项目“闽台金融支付系统对接及价值网治理研究”(项目编号:2014J01266);福建省高等学校杰出青年科研人才培育计划的资助

摘　　要：文章通过构建双边定价模型,研究支付平台封闭式运行与开放式运行的利润差异并给出平台转型策略。研究结果表明:在二部定价模式下,开放型支付平台的利润水平处于优势;在会员费模式下,开放型支付平台的利润水平则处于劣势;在交易费模式下,当需求的平均价格效应足够强时,开放型支付平台将表现出明显的利润优势。文章进一步在交易费模式下,给出了两类支付平台利润差距与平均价格效应、单位交易成本、平台内加价能力之间的具体关系,界定了支付平台转型的触发机制、作用机理与路径选择。以此为基础,文章解释了美国运通支付公司"封转开"的动机,结合我国支付产业运行的基本事实部分地解释了中国银行卡支付市场组织形式"封转开"改革的低效率原因。This paper develops a model of two - sided pricing for a monopolistic platform and makes a comprehensive comparison of profit difference between open and closed payment platforms. This paper reveals three important results. First, the profit of an open payment platform is higher than that of a closed payment platform under the Two - part Tariff mode. Second, the profit of an open payment platform is lower than that of a closed payment platform under the membership fee mode. Third, the profit of an open payment platform outweighs that of a closed payment platform when the average price effect is strong enough under the per- transaction fee mode. And further, this paper defines the specific relationship among profit difference and three influential factors, i. e. , average price effect, per- transactional cost and intra- platform market power under the per -transaction fee mode. A sufficient condition including profit difference and three influential factors suggests the triggering mechanism, determining pattern as well as transition paths for payment platforms. These results contribute to explaining the motivation of American Express＇ transition into an open platform and are helpful to understand the inefficiency of organizational reform in China＇s bankcard payment market.

关 键 词：开放型支付平台 封闭型支付平台 双边定价 交换费 利润比较 转型策略 

分 类 号：F062.9[经济管理—政治经济学]