Legal Issues On Commercial Prepaid Cards

Nowadays, commercial prepaid cards can be easily seen in our life. Actually,there hide many mysterious principles behind this quotidian cards. The commercialprepaid card is a sharp double-edged sword, it brings not only advantages also risks.But look beyond appearance for the essence of commercial prepaid card, on one side,the advantages of it are hardly been replaced, while the risks are not inherent and canbe supervised. Consider between the advantages which are hardly been replacedand the risks which can be supervised, the commercial prepaid card has itsrationality of existence. In contemporary China, we should reasonaly face up to thevalue of the commercial prepaid card, and carry cautious supervision on it, in orderto give full play to the maximum effect of commercial prepaid card.All the time since, for the commercial prepaid card and its predecessor, tokennotes, legislations are provided in our country. At early times, token notes areclearly banned, then the2010" Non Financial Institutions’ Pay Services ManagementApproach" conditionally allows the existence of prepaid card, and then the ministriesand commissions of the State Council continuously issued multi legal documentswhich progressively deregulate the commercial prepaid card. The legal system ofcommercial prepaid card in our country is gradually changing. This change isadvancing with the times, in line with the value of commercial prepaid card and thedevelopment trend of the times. However, there are still drawbacks in the legalsystem on the regulation and the implementation, which need to be further improved.Throughout the development of overseas commercial prepaid card, overall,many countries and regions whose payment business is mature have encouragedcommercial prepaid card or similar electronic payment card’s development, andcarried on appropriate legal regulation to strive to create a proper atmosphere forthem. Among them, the commercial prepaid card payment business develop betterin Japan, the United States and China’s HongKong area, Taiwan area, and the relatedsystems are mature. The experience of these countries are representative and worth learning.In our country, the regulatory of commercial prepaid card should be based onour own condition. Consider domestic and foreign development situation, at thistime, China should face up to the value of commercial prepaid card, and establish theidea of regulatory which is to encourage the development in long-term trends, and tocarry out prudent supervision in the current situation. On this basis, the improveof the legal system of commercial prepaid card then should be taken on twodimensions, one is to Improve the regulations, another is to strengthen theimplementation.