Legal Issues Of Third-party Payment Platform

The third-party payment platform was born with the rapid development of e-commerce, and after a few years of development payments made great success in the field of online , as the third party payment market continues to expand, they face the risks and questions more and more. Compared with developed Western countries, the relevant legislation lags in China to make it in government regulation of the vacuum for long time. As the middle part of the online transaction, third-party payment platform has become an important subject of legislation. In 2010, the People's Bank of China successively issued"the non-financial institutions service management"and"The non-financial institutions service management measures to implement the regulations", this is the note, opened the third-party payment of the legalization in our country. This article is intended to implement the new law as the background, starting from a third party payment process, analysis of legal relations in the payment process, by using the European and American legislation and regulation of relevant experience and find out Legal Issues in the field of our third-party payment, and put forward their own knowledge and legislative proposals. Compared with previous research on third-party payment, this innovation is going to write the implementation of new regulations and discuss new problems in the transition period and make sound recommendations.This paper is divided into four parts.The first part introduced the definition of third-party payment platform, features, simply described the payment process, and then analysis of legal relations involved in the payment process.The second part mainly introduced two different legislative and regulatory models which represented by the USA and the EU, made reference on Legislation of domestic third party payment by comparison of them.The third part discussed the domestic third-party payment's problem and perfection. First combing of the legislative status of third-party payment industry, pointed out the deficiency and defects of long-term development. Then with the new law on the implementation as the background, proposed legislation to regulate the new proposals under the new situation.The fourth part is the conclusion:hidden in the domestic third-party payment's problems and risks can not be ignored, and gradually establish and perfect the third party payment legislation will help third-party payment market in China is conducive towards standardized, orderly and healthy development.