Research On The Legal System Of The Risk Control In The Third Party Online Payment

Having undergone many years of rapid development,online shopping has maturized in China. But the emergence of electronic payment makes online transactions more convenient and safer. However, in relation to the development of the internet, the law, policy, and market lag behind so much so that the third party payment industry is facing huge risks. But because of the complexity of the network and its professionalization, legal norms are difficult to include everything. At present, there are some normative documents about the third party electronic payment, but because of the complexity of the network and its professional, legal norms are difficult to include everything. The purpose of this paper is to analyze the legal risks of third-party payment based on the experiences of the legislation and risk control at home and abroad, and to study some feasible legal systems about the legal risk control of the third party payment in a practical and realistic way.The main body of this paper is divided into four parts.The first part, first of all, introduces the definition of the third-party payment and its specific operating mode and features in order to let readers have an objective understanding in a better and faster way. Then it talks about the legal relationships in the payment mode, including relevant main participants: the third party payment platform, buyers and sellers of online transactions as well as the legal nature and legal relationship between the bank and the main participants. The second part introduces some legal risks of the third-party payment platform in detail such as the risks rusulted from the unclear legal nature and legal responsibility of the third party main participants, safekeeping and interest risks of precipitation funds, the credit risks of the Internet payment platform, and the crime risks of using the third-party payment platform including illegal cash, illegal fund-raising, money laundering, etc.. The third part studies the more advanced legislative systems of the United States, the European Union, the international organizations’ provisions for electronic legislation. Combined with the analysis and research of the current situation of the legislation in China, and in contrast the Chinese and foreign legislation, this part aims to find out the existing problems and shortcomings of the Chinese legislation, and to provide reference for the legal risk control of our third-party payment. The fourth part, based on the above analysis and problems in our legal system for the third-party payment risk control, puts forward corresponding countermeasures including improving the legislation design of the third-party payment, the market regulatory system of the third party payment and other relevant set of risk prevention mechanism, and developing a set of relatively complete legal system for the risk control of the third-party payment.Since the reform and opening-up, the market economy has prompted the development of the law so that the law in return has protected the stable development of the market economy. The third-party payment industry is not fully mature today, we must manage and control it in order to provide certain protection for the stability and security of the third-party payment industry.