互联互通模式下考虑用户绕道交易的支付平台定价策略  

Pricing Strategies for Payment Platform in the Presence of Bypass Transactions under Interconnection Mode

作　　者：傅联英[1] 骆品亮[2] LIANYING FU;PINLIANG LUO(School of Economics and Finance,Huaqiao University;School of Management,Fudan University)

机构地区：[1]华侨大学经济与金融学院 [2]复旦大学管理学院

出　　处：《工信财经科技》2022年第5期94-112,共19页Review of Financial & Technological Economics

基　　金：教育部人文社会科学研究规划基金项目“支付平台风险生成机制及治理对策研究”(编号:20YJA790011)资助。

摘　　要：互联互通模式下,账基支付工具能够诱导用户绕过卡基支付平台完成交易,倒逼卡基平台优化费率结构以阻断交易量分流风险。本文基于二部定价制,比较分析了卡基支付平台在系统封闭(垄断和竞争)与互联互通(竞争并合作)情形下的定价策略及调整方略。研究发现:账基支付工具的接入既降低了卡基支付的费率水平,又重塑了费率结构。垄断场景下,较之于纯线下业务模式,“线下+线上”多业务垄断会降低卡基支付线下业务的固定费用,同时提高变动费用。竞争场景下,账基支付工具在线上业务发起的竞争,会导致卡基支付平台线下业务的固定费用和变动费用双降。竞合场景下,在批发市场上,卡基支付平台向账基支付工具收取的最优接入费低于其边际成本;在零售市场上,卡基支付平台对内收取的固定费用高于其对外收取的固定费用。研究结论为新兴支付科技的有效接入和卡基支付平台的定价策略设计提供了市场解。Under the interconnection mode,account-based payment instruments may entice bank users to bypass card-based payment platforms to complete transactions,forcing the card-based payment platforms to optimize fee structure with the aim to block the risk of volume diversion.Based on the two-part tariff model,this paper investigated the pricing strategy and adjustment strategy for the card-based payment platform in the case of monopoly,competition and competition with cooperation.Results show that the introduction of account-based payment instruments not only reduces the fee level of card-based payment,but also reshapes the fee structure.Compared to the pure offline business model,a monopolist combing offline and online business will reduce the fixed fee but increase the variable fee of the offline payment service in the monopoly scenario.In the competitive scenario,the competition initiated by the account-based payment instruments on the online business will result in a simultaneous drop of the fixed fee and the variable fee in offline business of the card-based payment platform.In the competitive cooperation scene,in the wholesale market,the optimal interchange fee charged by the card-based payment platform to the account-based payment instruments is lower than its marginal cost;while in the retail market,the fixed fee charged against inside users by the card-based payment platform is higher than that against outside users.The research conclusions provide a market solution for the effective access of emerging payment technology and enlighten the innovation of pricing strategies for card-based payment platforms.

关 键 词：支付平台 互联互通 绕道交易 费率结构 二部定价 

分 类 号：F724.6[经济管理—产业经济] F832.2F274