Third-party Payment Online Payment Platform Of Legal Issues

With the development and popularity of the Internet, online shopping appears to public as a new application. Online payment is the payment part in the process of e-business service. As online shopping is becoming more and more popular, the 3rd party payment system is implemented by the professional e-business corporations in order to solve the security problems, provide a security service for online transaction and make this innovated e-business service profitable. the widely used 3rd party payment systems nowadays are Alipay, payEase, TenPay, Paypal (by eBay), YeePay and Visa authentication service. These systems break the bottleneck suffered by the e-business corporations, provide the quick, safe and convenient way of payment for customers and benefit the enterprise as well.However, there are a few regulations on e-business in our country right now, existing in local rules and decrees. The force of law is in lower degree, even without engagement. Thus the development of law on online payment is far behind the development of e-business. Many problems during online transaction cannot be solved. More problems appear on the online payment. It will restrain the development of e-business and even influence the speed of economic development of our country. Therefore, it is necessary to draw up related laws on the payment part of e-business.This paper starts from each entity and section in e-business transaction, elaborates the existing legal problems in the 3rd party payment system and the solutions. The content is divided into four parts, the first part gives a description of the concepts and features of payment, its tools and basic models from the current status and basic theoretical issues of online payment, then introduces two main types and workflow of the 3rd payment system. The second part analyzes each entity of the 3rd party payment system and their legal status, and the legal relation among online payment entities, the third part presents the laws and regulations of the 3rd party payment system in our country, showing the legislation shortage and vacancy in our country. The fourth part comparing the online payment laws and regulations in our country with other countries and groups such as United States, European Union and Singapore, emphasize that we should speed up the process of legislation on the 3rd party non-bank online payment, and give legislation suggestions considering domestic situation and other countries'experience for reference.