Research On The Legal Problems Of Virtual Credit Card Supervision

Alipay, Tencent and China CITIC Bank allied Zhong An Insurance company intends to launch an internet cross-border credit payment product-- virtual credit card after the announcement was immediately suspended by the central in its legality and safety(still been suspended) on March 2014. For the virtual credit card using the large data analysis, the innovation of the traditional credit card issuing mode, belongs to the financial innovation in the real sense, it also has such outstanding advantages as convenient payment, improve the success rate of mobile payment, enhance the user experience, study and continue to explore the virtual credit card has a realistic significance under the background of the current Internet financial thriving. Therefore, this thesis aims to tease out the specific legality and safety risk which the financial business may produce from the basic legal issues of virtual credit card and through making comparison with the traditional credit card in the issuance and transactions involving the legal relationship, finally puts forward some feasible suggestions on supervision for opening the virtual credit card as soon as possible.This thesis has four chapters and the text starts from the second chapter. The second chapter briefly summarizes the basic legal issues of virtual credit card, and points out that the virtual credit card is essentially still belongs to the credit card that without the medium and the carrier is "virtual" through the comparison with traditional credit card. The third chapter mainly analyzes the specific legal relationship between the legal subjects of the virtual credit card involved,providing a theoretical basis for exploring the possible legal risks of virtual credit card,which highlighted the consumer lending relationship between the issuer and the cardholder is the sensitive point of virtual credit card being suspended. This thesis’ emphases are the contents of the fourth chapter and the fifth chapter. Among them, the fourth chapter mainly to analyses the legal risks of the virtual credit card that may exist in our current laws and regulations system from the two aspects of legality and safety. Where legal analysis mainly from three aspects of the issuing body, issuing object and issuing procedural to discuss; safe analysis mainly list the risks such as the cohesion, the identification, the security on digital information and unfair competition risks as well as the cardholder default risk and the risk of money laundering which the traditional credit card also cannot avoid. And the fifth chapter is based on the analysis of the above chapters, puts forward the feasible suggestions of supervision, including the supervision of macro-level and micro level.