電子支付商業模式發展分析─全盈支付個案研究

近年來，在全球疫情的推動以及數位科技快速發展的背景下，顧客行為和市場需求發生了顯著改變。不論是收款方或付款方，對於跨境跨域、流程簡便且安全效率的支付服務需求大幅提升。這一變化使得支付產業迅速成長，吸引了來自不同產業的業者紛紛投入電子支付領域，形成了多元競爭的局面。金融科技(FinTech)技術的興起，更進一步推動了支付產業的創新與演變，尤其可見國際知名支付業者在商業模式上進行階段性演化改變，提供更多元化的價值服務以滿足用戶不斷變化的需求。台灣的非現金支付在政府政策利多及法規鬆綁的鼓勵下迅速發展，尤其是電子支付機構包括銀行與非銀行業者開始以各種競合方式探索跨領域合作的商業模式，然而，儘管專營的非銀行支付業者積極投入支付業務的平台經營，但電子支付的獲利模式尚未完全成熟，市場的競爭壓力也不斷加劇。要在這樣的環境中脫穎而出，支付業者必須能夠同時的有效管理風險，另一方面具備創造多元價值的能力。本研究主要透過探討支付產業的商業模式演化，分析其在不同發展階段的策略變革與模式創新，並以台灣電子支付業者全盈支付為個案進行深度分析。研究發現，支付產業的成功要素主要包括三個方面：穩定且忠誠的會員基礎、廣泛的使用場景及具競爭力的數據分析能力。個案分析部分則發現，全盈支付透過母公司全家集團的場景優勢，以嵌入式支付切入市場，並逐步朝多元生態圈策略發展。全盈的策略轉型驗證了從單一商業模式（消費型支付）向複合商業模式轉變的演進過程。全盈正進一步發展多元生態圈策略，並以數據共享與增值服務為核心價值，創造更大的市場影響力。最後，本研究針對全盈支付的未來發展提出建議，包括建立最低可行生態圈(MVE)來測試新模式、強化跨國市場布局及推動開放生態圈共創策略，期望能為台灣及其他市場的支付業者提供策略發展的參考依據，並進一步促進電子支付產業的永續成長。

關鍵字

電子支付；商業模式演化；金融科技；商業模式圖

並列摘要

Nrecent years, driven by the global pandemic and rapid advancements in digital technology, customer behaviors and market demands have significantly changed. Both payers and payees now seek cross-border payment services that are seamless, safe, and efficient, anytime and anywhere. This shift has fueled the rapid growth of the payment industry, attracting players from various sectors to enter the electronic payment field, thereby creating a diverse and competitive landscape. The rise of FinTech has further accelerated innovation and evolution in the payment industry, as evidenced by the phased transformation of business models by internationally renowned payment providers, offering more diversified value services to meet ever-changing customer needs. In Taiwan, the development of non-cash payments has been propelled by government incentives and regulatory easing. Electronic payment institutions, including both banking and non-banking entities, have been actively exploring cross-sector business models through various competitive and cooperative strategies. However, despite the dedicated efforts of non-banking payment service providers in platform management, the profitability of electronic payments remains underdeveloped, and competitive pressure in the market continues to intensify. To stand out in such an environment, payment providers must effectively manage risks while possessing the capability to create diversified value. This study examines the evolution of business models in the payment industry, analyzing strategic transformations and business model innovations across different stages of development. The research further conducts an in-depth case analysis of the Taiwanese electronic payment provider, All Win Fintech Company (hereinafter referred to as All Win), uncovering three key success factors: a stable and loyal membership base, a wide array of usage scenarios, and competitive data analytics capabilities. The case study reveals that All Win Fintech leveraged its parent company FamilyMart's scene advantages to enter the market through embedded payment solutions, gradually evolving towards a diversified ecosystem strategy. All Win’s strategic transformation has validated the evolution process from a single business model to a Hybrid business model. Currently, All Win is advancing its multi-ecosystem strategy, emphasizing data sharing and value-added services as core value propositions to enhance its market influence. Finally, this research provides recommendations for All Win future development, including establishing a Minimum Viable Ecosystem to test new models, strengthening its international market expansion, and promoting an open ecosystem co-creation strategy. These insights aim to serve as a strategic reference for Taiwanese and other market payment providers and to further drive the sustainable growth of the electronic payment industry.