[Review] A Study on the Change of the Payments System : Focusing on the Strategies of Distribution Companies and Fin-tech Companies

KIM, S. H. (2023). [Review] A Study on the Change of the Payments System : Focusing on the Strategies of Distribution Companies and Fin-tech Companies. , 21(5), 113-120, https://doi.org/10.15722/jds.21.05.202305.113

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Abstract

Purpose: The purpose of the study is to examine how payment systems for traditional distribution channels pursue changes and how they collaborate in-depth with fintech companies. This study examines the changing payment system through the strategic partnership between distribution companies and fintech companies. Research Design, Data and Methodology: The study conducted research using a variety of secondary materials and existing literature and also utilized the interview method. More specific and in-depth research is conducted through various literature studies and secondary data. Findings and Results: The findings of the study are as follows. First, distributors have occasionally directly adopted simple payment systems due to changes in payment systems as a result of online advances. Second, distributors were found to collaborate with fintech companies when not directly using simple payment. Conclusions: Such maneuvers by distributors are aimed at first, providing convenience and simplicity for consumers. Second, developing the ability to apply big data for accumulating consumer information and third, producing a customer lock-in effect by reducing the fees charged for existing payment services. The present study will provide many domestic and international distributors with a new perspective and practical implications in terms of the distribution and finance industries.

keywords: Payments System, Fin-tech, New Trade, Distribution Companies, Fin-tech Companies

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Article Contents

Vol.21 No.5

[Review] A Study on the Change of the Payments System : Focusing on the Strategies of Distribution Companies and Fin-tech Companies

Abstract

Reference

The Journal of Distribution Science