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Research On The Legal Problems Of The Third-party Online Payment Risk Supervision

Posted on:2016-12-07Degree:MasterType:Thesis
Country:ChinaCandidate:T ChenFull Text:PDF
GTID:2296330470452493Subject:Economic Law
Abstract/Summary:PDF Full Text Request
With the development of financial reform, the Internet and e-commerce aregradually rise, and the third party payment industry has entered the explosivedevelopment period. Deadline2013in China, enterprises which got third partypayment licensed has reached250.Among them, there are over80enterprisesproviding the online payment service. At the same time, the participants of the thirdparty online payment chain continues to expand. Today, the participants have beeninvolved in consumer, merchant, network payment mechanism, bank, Internetpayment security protection, self-regulatory organization of the industry andgovernment regulators etc. By the end of2013, Alipay has had300000000new users,while the mobile phone users has reached100000000, with134financial institutionscooperating with Alipay, serving approximately46million merchants, and incooperation with the9anti-virus vendors providing you security.According to the current trend of development, the future payment products willdevelop in diversity, mobilization and micro payment. At the same time, along withthe fixed market share and cross fusion bank-Alipay relations, market competitionwill become increasingly fierce, coming the knockout. In this process, innovation willbecome the key to the development of the third party payment of the Internet.In the digital age, because of the market, personnel, policy and other reasons, thepayment of non face-to-face transactions is facing a huge crisis, such as the policy change risk, innovation of the payment instructions form risk, money laundering risks etc.If these risks are not regulated, they are likely to damage the interests of consumers, and even have the impact on China’s economy. Therefore, China needs to improve the relevant laws and regulations, to protect the interests of consumers, maintaining the stability of the financial order. In2010the central bank have published the "non financialinstitution payment services management approach" and the "implementation rules",which marks the improvement of the third party payment of Internet legal system of risk supervision. After that, China introduced the relevant provisions about anti moneylaundering and the petty cash.The supervision of the third party payment of Internet in foreign countries startedearlier, which has formed a relatively mature system. Although USA, EU, Asia and other countries and regions of the regulatory system is particularly unique, they have th e perfect legal norms in the regulatory system, consumer protection concept, encouraging innovation and anti money laundering. Compared with the foreign third party Internet payment risk supervision, China still has many shortcomings. The supervision system is not perfect. Static regulation has been unable to meet the needs of the present.The protection of consumers’ rights and interests is not enough. And the anti money laundering system is not perfect.Based on the research of the third party payment of Internet risk supervision,some suggestions of perfecting it are proposed like the transformation of China’s thirdparty payment of Internet risk supervision idea, to perfect the risk supervision system,to achieve dynamic supervision on all aspects, to strengthen the protection ofconsumer rights, and to pay attention to the construction of the legal system whichanti money laundering and so forth.This thesis is emphases on the legal problems of the risk supervision of the thirdparty network payment, synthetically use the literature analysis, empirical researchmethod, comparative study method and so on, in-depth analysis of its risk, drawlessons from the foreign supervision experience, analyze on the current situation ofthe third party payment in our country, and points out the shortcomings of China’sthird party payment of Internet risk supervision. Finally, to put forward my ownsuggestions on perfecting the risk supervision of the third party payment of Internet inour country.
Keywords/Search Tags:Third-party online payment, regulatory risk, legal system, innovation, consumer protection
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