Online Payment Of Legal Issues

With the rapid development of internet and E-commerce, a new way of payment service emerges in our life---- online payment. It is a way of service for customers paying for their purchase through internet. Online payment service is efficient and quick for capital transfer and makes home purchase 24 hours a day come true. It realizes e-commerce in reality. At present, the major banks of China are developing online payment service through internet----that is, by setting up network bank to provide online payment service. However, the problems concerning the security of payment becomes the greatest obstacle in its development. The risks arisen in network mainly include technological risk and legal risk. For the latter, problems occur when the rights of the parties, especially of the consumers as inferior part, are unable to be protected due to the defects of laws. Although SSL and SET agreement and authentication authorities have provided support technically for the security of online payment service, it is impossible for the technical means to detect the reliability and trueness of the traders, and thus the security of transaction and protection against sabotage and crooks are difficult to be achieved. We are taught in reality that a large number of problems are now existing in the process of online payment service. However, it is still blank in law against these problems.At present the laws concerning online payment service domestically have not been legislated yet. The current negotiable instrument law is impossible to resolve the problems arisen in online payment service. The crooks by hackers, faults by users, and losses by mechanical or network problems are now more and more hindering the development of online payment service. Therefore, it is essential to speed up the legislation procedure in light of the practical situation of the application of online payment service in China. On the basis of the theoretical guidance in terms of civil commercial law, economic law, negotiable instrument law, and E-commerce law, with the experiences and trends of the legislation of relevant laws of other countries, by adopting comparative analysis method to study the ways of other countries to solve the similar problems of online payment services, this thesis from the legal view endeavors to provide suggestions constructive for the legislation of laws concerning online payment services to boost the development of online payment services and E-commerce in China.