英国论文代写安格利亚鲁斯金大学：行业分析

Paypal公司是一家国际在线支付公司，为消费者提供在线支付的机会。尽管总部位于美国，Paypal公司在全球200个国家运营。贝宝为其客户提供了一个安全的汇款系统，以方便发送者和接收者之间的现金转移。但是，客户必须使用Paypal开设账户，以提供其信用卡和借记卡的详细信息，或者以其他方式提供银行账户。支付宝是另一家在全球支付行业内进行交易的核心公司。尽管位于中国，主要服务于中国企业，但支付宝支付系统公司由全球阿里巴巴电子商务公司所有。全球商户使用支付宝将商品出售给中国消费者。苹果支付公司是在全球支付行业成功运作的另一个例子。该公司向使用Apple移动设备的客户提供转账的数字钱包服务。作为万事达卡和Visa的合作伙伴，Apple Pay在加拿大，美国，英国和新加坡运营。该公司计划扩大到香港，法国和新加坡。

英国论文代写安格利亚鲁斯金大学：Industry Analysis

The Paypal company is an international online payment company providing consumers with the opportunity of making online payments. Despite being headquartered in USA, the Paypal company operates in 200 countries all over the world (Lillington 2016). Paypal offers its clients a secure money transfer system that facilitates the transfer of cash between senders and receivers. However, clients must open an account with Paypal in order to provide details of their credit and debit cards, or otherwise, bank account. Alipay is another core company that deals within the global payment industry. Despite being situated in China and mostly serving Chinese businesses, the Alipay payment system company is owned by the global Alibaba e-commerce company (Rosemann 2014). Global merchants use Alipay to sell their goods to their Chinese consumers. The Apple pay payment company is another example of a successful organization operating in the global payment industry. The company provides the digital wallet service of money transfer to clients using Apple mobile devices. As a partner with MasterCard and Visa, Apple Pay operates in Canada, USA, UK and Singapore (Lillington 2016). The company plans on expanding into Hong Kong, France and Singapore.

英国论文代写安格利亚鲁斯金大学：行业分析

由于复杂的全球支付行业公司的增加，对支付行业进行行业分析非常重要。 这一分析将包括评估影响该行业的政治，环境，经济，社会文化，技术和法律因素。 PESTLE分析框架是分析一个行业所有这些因素的最佳工具。 对各种因素的深入分析也是必不可少的，以确定行业的未来趋势。 包括Paypal，万事达，Visa国际，支付宝和Apple Pay等在内的全球主要公司将作为案例分析。 因此，行业分析将关注全球支付行业，因为这个行业的大多数组织都把重点放在国际化业务上。

英国论文代写安格利亚鲁斯金大学：Industry Analysis

Due to the increase of companies in the complex global payment industry, it is important to conduct an industry analysis of the payment sector. This analysis will include an evaluation of the political, environmental, economic, social-cultural, technological and legal factors affecting the industry. The PESTLE analysis framework is the best tool to analyze all these factors in an industry. An in-depth analysis of the various factors will also be imperative so as to determine the future trends of the industry. The major global companies in the industry including the Paypal, MasterCard, Visa international, Alipay and Apple Pay companies will act as case studies for this analysis. The industry analysis, therefore, will focus on the global payment industry since most organizations in this industry have focused on internationalizing their businesses.

PESTLE Analysis of the Payment Industry

Legal and Technological Analysis

Organizations operating in the payment industry have a huge reliance on government laws and regulations in ensuring the continued success of the industry. Companies in the global payment industry have a huge reliance on technological innovations in order to align their business plans to the laws and regulations of the international and local regulations agencies (Evans 2004). Various businesses in the global payment industry are revolutionalizing the industry, and enabling consumers benefit tremendously from the swift operations of invisible money payments. However, the global regulatory system for the payment industry has not been able to keep pace with the changes in the industry (McKinsey 2015). Among the key needs for regulations in the global payment industry includes the need to protect consumers from breach of their security and cases of theft, managing business risks among organizations, have reliable regulatory oversight while combating cases of fraud in the industry. Companies such as Alipay, Apple pay and Paypal have heavily invested in technology so as to ensure detection and monitoring of fraud and terrorism (McKinsey 2015). Paypal has an advanced security system reliant on artificial intelligence technology called deep learning (McKinsey 2015). Through this technology, the company can easily detect cases of fraud without making mistakes. Companies in the global payment industry further deeply rely on the real-time analysis of transactions in order to void theft cases of the data of their consumers especially through phishing emails used by cons.

Most companies within the payment industry are using the traditional Know Your Customer (KYC) technological system as a means for ensuring protection of the transactions by their clients (Holotiuk et al. 2017). Through using the KYC system, payment companies require consumers to register with the organization. Paypal is an example of a payment company that requires customers to have an active account with them. This account will provide key details of the client, and also inform the client of the regulations that Paypal has put in place in order to protect the privacy and interest of their clients. As such, most companies, through the Know Your Customer governance rule, can be able to address situations that relate to counter terrorism financing and Anti Money laundering activities (McKinsey 2015). Most countries require payment companies to have an efficient system of monitoring fraud cases concerning the transactions of their clients. However, these regulations by various companies should be regularly updated in order to ensure that the companies keeps up to date with innovations in the industry.

Both Ali Pay and Paypal companies have a risk based system meant to reduce business risk in the company (Merschen 2010). The companies use the systems to gather the profiles o their customers, detect and monitor cases of Fraud, authorize credit card checks, monitor cross border transactions and payments across various jurisdictions and as according to the laws of the specific country and also control all risks in the business. The global payments industry strictly adheres to the risk-based approach of regulation required of companies in order to have a holistic outlook on all processes in the business and also record multiple sets of data in the company (Kumar 2016).

The Financial action task force is an example of an inter-government body that provides regulations for the operations of companies in the payments industry (Evans and Schmalensee 2009). The inter-governmental body has been established to monitor and ensure compliance of payment companies to operational, legal and regulatory laws and regulations concerning threats related to the security and integrity of the global financial system. The inter-governmental regulation body for the global payment industry takes immediate and appropriate jurisdictional action to suspicious activities reported. The global financial regulation body reports suspicious information to relevant authorities who investigated the reported incident (Evan and Schmalensee 2009).

Protection of consumer finances and data has been a priority to payment companies. Credit card fraud has especially been a concern in the payment industry in the recent past. Most developed countries such as UK, USA, China, France and Canada have advanced financial regulatory systems in place for the purpose of detecting and responding to the risk of fraud. PayPal, Apple pay, Alipay and Master card companies have technologies for managing fraud and predicting cases of possible Frauds, as mandated by the US government (Business Post 2017). The government aims at ensuring the minimization and prevention of counterfeit transactions. Financial institutions including payment organizations are also mandated to have technology-based third-party governance models meant to ensure the protection of consumer data.

Economic Analysis

In discussing the economic impact of the payment Industry, Zandi et al. (2013) analyzed the macroeconomic data for 70 countries to where various payment organizations are located. The macroeconomic data analyzed was for the period between 2011 and 2015. With hypothesis that the payment industry has a positive relationship with the macroeconomic benefits of countries, the research concluded that increased electronic payment usage in participant countries led to a cumulative increase of global GDP in the countries by 0.1%. The researchers translated this percentage to an average of $74 billion contribution of the payments industry to the GDP of a country in each year. Further, the research confirmed that the real consumption in the sampled countries for the given period grew by an average of about 2.3% (Zandi et al. 2013). 0.1% of this increase is real consumption and was attributed to the increased use of electronic payments in the countries. As such, this research confirmed that the results of the analysis implied that the use of electronic payments in various transactions during the sampled years led to an average of 0.4% growth in the consumption capacity of the participant countries. Additionally, the research confirmed that the global payment industry had contributed to the growth of employment in the identified countries by an annual average of 2.6% employment opportunities for the households over the analyzed period of between 2011 and 2015.

The payments industry as situated in several countries have enabled expand the pool of consumers in the market. Consumers are more willing to pay for services rendered due to the convenience of electronic forms of payments. Further, the organizations operating in the global payments industry have enabled the governments of countries have better records of transactions conducted. This information has facilitated better systems for the government in collecting tax revenues. Increased consumption in the economy, therefore, has led to a virtuous cycle in the economy of countries, where the increase of consumer spending has also encouraged production and  entrepreneurship culture in the economy (Business Post 2017). Small and medium businesses have eventually grown due to this economic cycle, leading to more employment opportunities especially for the young people. The increase of income in the economy has contributed to greater economic prosperity of countries and also improved GDP.

Social-cultural Analysis

As competitive businesses trying to gain competitive advantage in the fast growing payment industry, companies in the global payment industry are increasingly considering the effects of social-cultural factors in influencing the success of the company. In considering the cultural factors influencing the response of consumers to the use of electronic forms of payment, organizations in the payment industry are focusing on conforming to the cultures of different major consumers in order to seek acceptance of their businesses among potential clients.

The Paypal payment company has been among the successful organizations in the the global payment industry due to its ability to blend in with the cultures of their consumers (Rosemann 2014). While in Asian countries, Paypal focuses mostly on the older generations when trying to market their payment services (Ondros and Pigneur 2006). This is because in most Asian communities, children have little monetary and social power as compared to their parents. This is because children in Asian countries do not gain financial independence as early as in the westernized countries. Further, most children follow in the traditions and beliefs of their parents and society. Acceptance of the electronic payment system by the older generation in the Asian countries will also lead to acceptance of the company among the younger generation.

Alipay and PayPal have also mastered the business art of considering the status of their clients in specific Asian countries when trying to expand their brand in the country. Success of Alipay in China, for example, has been due to the ability of the payment company targeting the growing upper and middle class in China. There is a rise of affluent household in china, who are driving the consumption rate of the country. Research by AliResearch reveals that the growth of a new generation in china who are affluent with e-commerce transactions and have sophisticated consumption tastes have a huge positive impact to the Alipay company (Evans and Schmalensee 2009). The research forecast that by the year 2020, the younger generation of consumers in China will account for 65% of the consumption growth in China.

Paypal also relies on the peer to peer approach of transacting in order to attract transactions among various peers in the society, using the electronic form of payment offered by Paypal (Rosemann 2014). Paypal targeted the peers in the society and enabled them split bills conveniently without having to exchange bills. The customer niche targeted by PayPal through this peer to peer strategy was the sophisticated class of people in the society.

Analysis and Conclusion

The future for the global payment industry are the technological innovations in the sector. In earlier years, regulations in the industry was vital to the success of the industry. Technology was only considered as a long term driver of change in the payment industry. However, considering the PESTLE analysis conducted of the payment industry, it is evident that the industry needs to further pursue technological innovation strategies in order to ensure regulation of the sector. The regulatory sector of the payment industry needs revamping due to growing technology in the industry. Companies in the payment industry have a need of efficiently and timely dealing with the challenge of change in customer preferences, regulatory requirements, increased volume of electronic transactions and also the threat of new entrants into the industry. All these challenges can be effectively conquered through companies adopting new and improved systems.

The future of the payment industry will include several non-banking institutions that are technology giants and also start ups to penetrate the industry. These digital entrants will have the capacity to transform the customer experience global platform, ensuring satisfaction and security of customers while transacting. Facebook also targets to penetrate the payment industry and benefit from its high potential of having millions of customers within their first years of operation (Goel 2015). These non-banking new entrants into the digital payment platform pose a threat to the existence of the banking industry in the near future. Customers in the banking sector have complained of the ineffective an slow services of banks (Holotiuk et al. 2017). This gap in the banking market has led to development of various international online payment companies that seek to capture the interest of millions of consumers who are tired of using the expensive banking system of sending and receiving money globally. There are already new entrants into the payments industry who are offering cheaper and flat rates on all international money transfers, providing intense competition to both banks and established global payment companies such as PayPal.

The global payment industry has had impressive financial results over the years. With the change of drivers in the industry, leading to the adoption of technological innovations, revenues in the industry are expected to steadily increase (McKinsey 2015).

An expected technological trend in the global payment industry is the evolution of virtual money (Holotiuk et al. 2017). The payment industry evolved in the year 2016 through the development of the technology of virtual terminals and currencies. Bitcoin was innovated as an alternative form of virtual payment. New entrants into the payment industry, such as Apple pay are considering adoption of the Bitcoin technology in improving its services to consumers (Holotiuk et al. 2017). However, despite the promise of tremendous growth of the global payment system, there still remains the challenge of marketing for the companies in this industry. Online payment companies should strategize on how best to attract the attention of potential clients.