Research About Legal Regulation On The Internet Third-party Payment Platform

With respect to third-party payment platforms which are developing rapidly on the internet, it is believed that there are many deficiencies of legal supervision and management on them. By analyzing data concerning developments of internet third-part payment platforms in China, it is indicated that there are three problems, including simplicity of supervising subject and pattern, insufficient orientation and utilization of precipitation funds, and incomplete supervision and management on money laundering and terrorist activity-oriented financing. For the three problems, it is believed in this paper that the fundamental cause lies in insufficient preparations of concerned legal theories. In addition, directing at inadequate experience on supervision and management of internet third-party payment platforms in China, analysis methods of comparative jurisprudence were adopted to present a recommendation that relevant beneficial experiences in extraterritorial countries could be taken for reference and for improvement. However, when considering that there is no systemic legal theory for supervision and management of internet third-party payment platforms in China, it is recommended that, under the precondition of properly developing them in a loose mode, relevant experience on supervision and management should be accumulated and integrated with beneficial experience from extraterritorial countries.When specifically referring to the urgent issue concerning supervision and management, properly expanding supervision methods and introducing multiple supervision subjects should be fully considered in legislation for the issue concerning the simplicity of supervising subject and pattern; for the issue concerning insufficient orientation and utilization of precipitation funds, rational utilization of precipitation funds should be properly enhanced by improving supervision and management of the funds; and, finally,foreign dynamic supervision-concerned experience should be borrowed, while developing and relevant legislation of electronic currency can be properly considered for the issue concerning money laundering and terrorist activity-oriented financing. Viewed from long-term developments, efforts should be concentrated on improving relevant legal theories, fully absorbing various beneficial experience and trying to soon establish relevant legal theories suitable for our developments.