The Third-party Online Payment Sedimentation Funds Risk Research

With the rapid development of Internet and e-commerce, e-payment market in China has made a good deal of progress. In 2013, the third-party online payment trading volume in China amounted to 5.3 trillion. In the past five years, the average annual growth rate of third-party payment exceeded 50%. The third-party payment business begins to play an important role in the national economy. Due to the development of the third-party payment industry, the third-party payment platform sedimentation funds have reached a staggering amount. In recent years, due to the implementation of fast and convenient means of payment between bank and third-party payment organization, a variety of innovative products based on the balance of third-party payment virtual account appears, such as "Yu’e Bao", "WeChat Wallet", etc. And these innovative products increased the scale of the sedimentation funds.The third-party payment industry has rapidly developed. Yet the relevant legislation cannot keep up with the pace. The regulatory system for the third-party payment was firstly established in 2010, with the publishing of "the Administration measures for payment service by non-financial institutions" by PBC. In 2013, "Measures for the Custody of Clients’ Reserves of Payment Institutions" was issued, and the regulatory system gradually improved. But in overall, the legislation about third-party payment industry is still not perfect. Bull management phenomenon still exists. In addition, the management level, technical strength in different companies is uneven. In recent years more and more legal cases occurred in the third-party payment industry. In this context, the risk research of third party payment especially the risk research of the sedimentation funds has become very important.In this article, the AHP-based fuzzy synthetic evaluation method was utilized. The risk factors of sedimentation funds were hierarchical decomposition, and thus established the fuzzy synthetic evaluation model. By means of investigations, the experts’ evaluations of various risk factors were collected. And by calculating the model, the conclusion of risk level of the third party payment sedimentation funds was drawn. Based on this conclusion, the author further discussed the main advantages and problems in China of this area, and some suggestions about it were given.