第三方支付外文文献翻译.docx

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第三方支付外文文献翻译

外文文献翻译

原文及译文

标题：

ReuseIntentionofThird-PartyOnlinePayments:

A

FocusontheSustainableFactorsofAlipay作者：

YongrokChoi,LiliSun其月干丨J:

Sustainability，第8卷，第2其月

年份：

2016字数：

译文4000多字

原文

ReuseIntentionofThird-PartyOnlinePayments:

AFocusonthe

SustainableFactorsofAlipay

YongrokChoi，LiliSun

Abstract

AnanonymoustransactionenvironmentandtheadvantageofvirtualpropertyhaveresultedintrustplayinganimportantroleintherapidgrowthofonlineshoppinginChina.Tosatisfythistrustissue,Alibaba（China）Co.，Ltd.（Hangzhou，China）inventedAlipay,thelargestthird-partyonlinepaymentservice.Usingastructuralequationmodel（SEM）,thispaperattemptstodeterminewhetherAlipay^sservicequalityfactorsaretrulysustainable.Theresultsindicatethatonlytwooffivefactors—convenienceandsecurity—aresignificantlymediatedbythesustainableperformanceofcustomersatisfactionasamediatorTheotherthreefactors—usefulness，responsivenessandeconomy—wererejectedfortheroleofcustomersatisfaction,eveniftheyareacceptedregardingthedirecteffectonreuseintention.ThisresultimpliesthatChinesewebcompaniesneedtomakegreatereffortsnottoensureinitialsuccess,butinsteadtoensuresustainableperformance.

Keywords:

thirdpartypaymentservice;structuralequationmodeling;reuseintention;China;Alipay

Introduction

Inrecentyears,Chinahasexperiencedsignificantachievementsinallindustriesandparticularlye-commerce.Alibaba,theleaderoftheChinesee-marketers，inventedKwangkunjie（Single’sDay）,andone-dayonlinesaleonNovember11thatissimilartoblackFridayafterThanksgivingintheUnitedStates.Onthisdoubleelevenday,Alibaba’stotalturnoverfromallofitsplatformshasbeen91.2billionYuan（US$13.68billion）,whichinvolved232countriesand467millionlogisticsorders.Thesefiguresrepresenttheworldrecordforsingle-dayonlinetransactionvolume[1]•Alibaba’ssignificantsuccessonKwangkunjiemayhaveresultedfromthemostsuccessfulintermediationofAlipay,thethird-partyonlinepaymentsystemthatitlaunchedinChinain2004.Alipaychargesnotransactionfeesandprovidesanescrowservicethatenablesconsumerstoverifytheirsatisfactionwiththegoodstheypurchasedbeforereleasingmoneytotheseller.Thisserviceiscriticalbecauseitgivesconsumersguaranteedintermediationbyanauthorizedthirdparty，anecessitygivenChina’sweakconsumerprotectionlawsandregulations.Itspro-activenessmakesAlipayauniquepayment-relatedservice;forexample，relativetoILS^basedPaypal’ssimplethird-partypaymentservice，Alipayprovidesguaranteesfortransactions.Alipayalsoprovidesenhancedonlinepaymentfunctionsthroughintegrateddiversefunctions,suchasformobilegames,moviesandothers.Incontrast,SamsungPayinKoreasimplyprovidesflexiblepaymentservices.Alipayismuchmoreattractivetocustomersgivenitsintegratedone-stopmulti-user-friendlyservices.China’sthird-partyonlinepaymentvolumeincreasedtoapproximatelyeighttrillionYuan（US$1.2trillion）in2014，withgrowthof50.3%comparedto2013.Alipayhasledthisrapidlyincreasinggrowthinthird-partyonlinepayments,witha49.6%marketshareor3-87trillionYuan,asshowninFigurel.Morethan300millionpeopleintheworlduseAlipayforpaymentservicesatTaobaoandTmall,aswellasatmanyofflinestores.Alipay’sstrongescrowsupportenabledAlibabatorapidlyincreaseitsonlinemarketshareinChina,andotherfollowerseffectivelyenabledconsumersinthislargecountrytointegrateonlineshoppingwithonlinepaymentsandlogisticsthroughone-source,multi-channeltransactions.In2013,AlipaylaunchedafinancialproductplatformcalledYu’ebaothatenablesAlipayuserstodepositanyremainingmoneyinanaccountandearninterest.Thisinterest-yieldingnewinventionbythethird-partypayermadeAlipaytheleaderinthise-businessnewfrontier.

Currently，Alipayprovidesboththird-partyescrowguaranteesononlinetransactionsandinterestontheunusedportionofanAlipayaccountInadditiontothesedirectsupportservicesforonlineshopping,manymoreapplicationsexistforAlipayuserswhofrequentlyvisitdiversegameandotherentertainmentsitesandforusersengagedininformativecommunityactivities.Alipaybeganasanonlineshoppingsupporterbybeinganescrowproviderandbecameamulti-channelthird-partyonlinebankingportalsite.ThecontinuingsuccessofAlipaycertainlyarisesfromtheproactiveorganizationalcultureofAlibaba（China）Co.，Ltd.，whichisakintoreadingusers”mindsandpullingtheirdemandinsteadofengaginginpushing-orientedforcefulpromotionalmarketing.Alipay'slong-termperformancecouldbesustainablegivenitsuser-friendly，performance-orientedmarketingefforts，becausethevaluecreationbasedonnetworkmanagementwithdiverseparticipantsofacertainproductiskeytosustainablee-businessmanagement.

However,asanonlinepaymentservice,Alipaymayrequiremoresustainableoperationsforsuccessfulperformance,becauseitisintheinitialstagesofthemarket,andtherapidlychangingenvironmentinChinacannotguaranteethatinitialluckwillcarryforwardtothelongterm.Inparticular,webmarketingforanonlinepaymentserviceisalsobasedonsustainablerelationshipswithusers.AccordingtoBhattacherjee（2001）,thesustainableperformanceofwebservicesshouldnotbebasedonsimple,instantaneousintentionsintheshortterm,butonreuseintentionsforthelongterm.Chinesecustomersarequicklyadopting“multichannel”shoppingbehaviorthatiscreatingbothopportunitiesandchallengesforsociale-commercebrands/companies,retailersandcompanies.TaobaoanditspaymentsystemAlipaycertainlyprovidethemostappropriatemarketingplatforminChina.Aspreviouslymentioned,theU.S.-basedPayPaldoesnotprovideescrowservices,andSamsungPayinKoreaprovidesveryflexibleaccesspointsforpayments,butnootherservices.Comparedtothesethird-partyonlinepaymentservices，Alipayprovidesdiverse,yetintegratedservicesformulti-channelusers.However,moreisnotalwaysbetter,andapaymentservice’scorecompetenceshouldmaintainanappropriate“reach”toenablereusebyusers.ThepurposeofthisresearchistodetermineAlipay^sustainablefactorsasathird-partyonlinepaymentserviceprovider.Toevaluatethesustainablefeasibilityoftheonlinepaymentservice，thispaperempiricallyteststherelationshipbetweenthewebmarketingmixofAlipayandthereuseintentionofusers.However,alinkisalwaysmissingbetweenwebmarketingmixanditsperformance.Becauseofthismissinglink,previousstudiesconcludethatinitialtrustinthewebmarketingmixisnoteffectiveenough,whereasothersinsistthatthewebmarketingmixissignificant.Therefore，thisresearchempiricallyteststheroleofconsumersatisfactionasamediatorbetweenthewebmarketingmixandthereuseintentionofconsumersonthird-partyonlinepaymentsystems,withanemphasisontheuniqueconnectionalcharacteristicsofAlipayTheoryandHypotheses

CharacteristicsofThird-PartyOnlinePaymentsThird-partyonlinepaymentservicesarewellknownasescrowservices,becauseanescrowgenerallyreferstomoneyheldbyathirdpartyonbehalfofthetransactingparties.Theseservicesarebasedonacontractualarrangementinwhichathirdpartyreceivesanddisbursesmoneyordocumentsfortheprimarytransactingparties,withthedisbursementdependingonconditionsagreedtobytheseparties-AstheAlipayserviceindicates,thisprocesssometimesmeansthatanaccountisestablishedbyabrokertoholdfundsonbehalfofthebroker'sprincipaluntiltheconsummationorterminationofatransaction.Ingeneral,mostonlinepaymentservicesprovideanobjectivetransferofmoneyalongthelinesofacommercialtransaction.Third-partyonlinepaymentsworkbyplacingmoneyinthecontrolofanindependentandlicensedthirdpartytoprotectbothbuyerandsellerinatransactionovertheInternet.Whenbothpartiesverifythatthetransactionhasbeencompletedperthesetterms,themoneyisreleased.Ifatanypointadisputeoccursbetweenthepartiesinthetransaction,theprocessmovestodisputeresolutiorhTheoutcomeofthedisputeresolutionprocessdetermineswhathappenstothemoneyinescrow.AsthemostrepresentativeonlinepaymentserviceinChina,Alipayhassuccessfullyoperatedathird-partyonlinepaymentserviceforonlineshoppingatTaobao,itsbrotherwebsite.Becauseonlinepaymentsarewebservices，Alipay’ssuccessfuloperationmayresultfromtheappropriateutilizationofthewebmarketingmix.Thus，thecorecompetenceofwebservices,suchasonlinepayments,shouldbebasedonthecapabilitytocreateandmaintainrelationalmarketing,whichisdifferentfromtraditionalmarketing.Similartootherservices,anonlinepaymentservicecouldbeevaluatedthroughitsservicequality.Ingeneral，servicequalityisdefinedastheintegratedcapacityfortheconsumertobesatisfiedwiththeexpectedservicepackagelevelanditsrelatedfunctions.Parasuramanetal.（2005）definee-servicequalityastheextenttowhichawebsitefacilitatesefficientandeffectiveshopping，purchasinganddelivery.WolfinbargerandGilly（2003）definee-servicequalityasthebeginningtotheendofatransaction,includinginformationsearch,websitenavigation，order，customerserviceinteractions，deliveryandsatisfactionwiththeorderedproductInthesedefinitions,ane-servicehasamuchbroaderspectrumthantraditionalorgeneralservicequality.Inparticular,WilfinbargerandGilly（2013）arguethate-servicequalityshouldbeself-sufficientinfulfillingtheproceduralset