1. Third-party payment platforms provide a series of application interface programs omnichannel payment processing that integrate multiple bank card payment methods into one interface and are responsible for connecting with banks in transaction settlement, making online shopping faster and more convenient.
Third-party payment integrates different payment interfaces of major back-end banks, providing a unified access platform for merchant access.
2. Banking system information security requirements, payment service experience is relatively poor, the use of third-party payment platform can carry out corporate payment business operation process more with simple and easy to accept.
In the fierce competition of third party payment, in order to compete for more users, a lot of optimization has been done in terms of merchant access, user experience, and product ease of use to facilitate user and merchant payment experience.
3. The third-party payment platforms themselves are affiliated with large portals and are backed by the credit of their partner banks. Therefore, the third-party payment platform can better break through the credit problem in online transactions, which is conducive to the rapid development of e-commerce.
4. In terms of cost, the third-party payment platform reduces the cost of direct connection to banks and satisfies the demand for payment and collection for online business development.
The third-party payment platform further simplifies the transfer of funds on payments, thus reducing the time required for the transfer. The third-party payment platform avoids competition with service companies and acts only as an intermediary service layer.
Third-party payment platforms are diversified to provide personalized settlement services to the market.