本文提出EPSR@PM分析框架,基于外部环境、目标定位、关键资源能力、利益相关者、盈利模式5类要素,对网络支付行业的基本运行模式和机理进行系统性分析。运用这一分析框架,我们深入剖析市场主体与相关主体之间的动态博弈关系,以及所选取的经营战略及商业模式,进而对行业未来发展趋势做出展望。 This paper presents EPSR @ PM analysis framework and systematically analyzes the basic operation modes and mechanisms of the online payment industry based on the five elements of external environment, target location, key resources, stakeholders and profit model. Using this framework, we analyze in depth the dynamic game relationship between the market players and the relevant players, as well as the selected business strategy and business model, and then look forward to the future development trend of the industry.