A Study On The Third-party Payment Of The American Legal System

The payment system is the core part of a modern market economy and financial activities. Safe and efficient payment system is a crucial guarantee for the sustained and healthy development of economy and finance. In recent years, China’s third-party payment, showing the trend of rapid development, has been expanding its business field and scale; at the same time, third-party payment has becoming increasingly close to the economic activities. As we all know, the development of America third-party payment has a long history comparatively. The America legal system, like consumer right protection, market access, anti-money laundering and deposit insurance, and so on, has relatively complete legislation. Nevertheless, the Chinese legislation for regulating the third-payment institutions includes Implementation of the Administrative Measures for the Payment Services Provided by Non-financial Institutions which was released in 2010 and Implementation of the Administrative Measures for the Internet Payment Services Provided by Non-bank Payment Institutions which was issued on December 28 th, 2015. As for the other aspects of applying the related law and supervising the third-party payment, the statutes on bank or financial institution are generally taken into the consideration as reference.In fact,with the development of e-commerce and increasingly large market needs of the third-party payment,their needs related laws to regulate. What’s more, the shortcomings of the third-party payment, such as lack of consumer right protection, imperfection of supervision towards the third-party payment itself and lawbreaker utilize the third-party payment for money laundering, etc., therefore, it’s urgent for China to have some related criterion to regulate the field of the third-party payment.In view of the difficulties of applying laws caused by the ambiguity of the legal status of American third-party payment institution, this thesis starts from simply analyzing the theory on third-party payment. Based on the study stated before, a concept of the legal status of American third-party payment institution is given. At the same time, in allusion to customer protection, try to figure out the rules and regulations with respect to the responsibilities of customers in unauthorized money transfer behavior, customers’ privacy right and right to information. What’s more, by means of studying American anti-laundering statutes, summarize rules of perpetuation of evidence, financial institution’s obligation and procedure violating those laws.That a study about reporting obligation of financial institution and procedural regulations on violating above-mentioned obligation is analyzed in the field of American third-party payment.what’s more, the breakthrough in anti-laundering legislation of American third-party payment is also given. At the end of the thesis, market access about unauthorized money transfer service license regulations and deposit insurance system and pass-through insurance system of America are analyzed. According to study American third-party payment legal system, try to offering some useful advises to Chinese third-party payment legislation.