Anti-monopoly Law Regulation Of China UnionPay In Payment And Settlement Market

China UnionPay play a huge role in payment and settlement areas.It is in charge of the bank card market. Under the guidance of financial liberalization and innovation, opening the bank card payment and settlement market is the general trend.As the information technology update and the industrial policies open, the third-payment mechanism becomes more and more mature. For example, the Paypal online payment has already occupied the leading position of the payments market and prepared to open the offline payment services. It means that the current status of the only interbank clearing mechanism will be challenged.In order to protect and consolidate the payment and settlement bank card market dominance status, UnionPay limits the member banks connect transactions with the third-payment agencies and prevents VISA from entering domestic market. These conducts are used to avoid market competition, but these conducts are related to monopoly. Our country ought to apply the anti-monopoly laws to regulate the conducts.This essay discusses the monopoly’s status, act, effect and regulation, and the important part is the conducts of UnionPay and how to improve the anti-monopoly laws regulation. Firstly, I describe the history of bank card component and classification, introduce the status, services and features of UnionPay.Secondly, I enumerate the UnionPay’s specific behavior which relate to monopoly, and analyze the positive and negative effects.Thridly, I elaborate the foreign bank card organization how to prohibits the monopolization.Finally, I propose some principles and paths to prohibit UninonPay monopolization, for instance, the legitimate principles, professional law enforcement and special legal provisions. And we use these methods to improve the UnionPay monopoly legal regulation. At the same time,we should admit competition, as establishing a new card organization or a civil clearing organization, to promote the market environment.