Analysis Of The Risk Type And Countermeasures Of The Third Party Mobile Payment

Third party mobile payment is the payment service to the users through the mobile terminal provided by the qualified and independent third party institutions. Mobile payment refers to the payment through the mobile terminal (mainly smart phones). In the past, there were cash, cheque, bank card and other payment methods. These payment methods all have their own shortcomings, such as inconvenience, high payment threshold, poor security and so on. As a new efficient and convenient means of payment, mobile payment has become an effective supplement to the traditional ways of payment. In recent years big data technology and cloud computing technology had got fast development, and intelligent mobile phones and Internet had stepped into thousands of households. Finance, education, medicine and other industries had entered an "Internet plus" era. That also promoted the transformation of payment. Third party mobile payment began to emerge in 2007. The convenience and efficiency of this way attracted a part of Internet users. However, because of security, until 2013 third party mobile payment had not developed well. The payment scale through third party mobile payment was still far from the payment scale through PC. From the beginning of 2013, with the rapid development of the taxi, catering, shopping and other O2O, major Internet companies and all kinds of apps began to subsidize customers to seize the market, and meanwhile the key technology of the mobile payment had made breakthrough progress and been widely applied in the market, third-party mobile payment began to grow dramatically. In 2012, the deal size of the entire third party mobile payments industry was 140 billion yuan, while in the next year, it rose to 1180 billion yuan. The growth rate was more than 700%. In 2014, the deal size of the entire market was close to six trillion yuan, and the growth rate was 401.7%. The deal size maintained a high growth state for two years. In 2015, the deal size of the industry had exceeded nine trillion yuan.Third party mobile payment grows so rapidly and at the same time many risks appears. For example, lack of effective supervision, legal inadequacy, attack of the malicious processes, software vulnerability and Internet fraud. Some third party mobile payment companies violate the regulation for their own interests, for example, the misappropriation of customer funds, stealing the user's private information, etc. The inefficient certification makes third party mobile payment a new way for money laundering, bribery and terrorist financing. All these problems are hindering the development of the industry.At present, the research on the third party mobile payment risk is mainly focused on the qualitative analysis. The analyses of the type of risks of third party mobile payment mainly focus on two types of risks, policy and law risk, and technical risk. the other types of risks have not got much attention. There are several studies have attempted to conduct a comprehensive risk analysis. However, the classification of risks is imperfect and incomprehensive, even ignoring some important risks, such as user risk awareness risk, industry standard risk and so on. Therefore, this paper tries to from four aspects, including the external environment, the third-party mobile payment platform, industry and users, to analysis the risks of third party mobile payment so as to analysis the risks scientifically and comprehensively. In terms of risk prevention measures, the current research mainly focus on the regulation, including the improvement of access-remove mechanism, stepping up the lawmaking work and so on. The research on how the third party mobile payment companies and users prevent risks is very few. Therefore, this paper attempts to put forward comprehensive risk prevention measures from three aspects, including the regulation, the third party mobile payment companies, and users.The core of the full text is the analysis of risk type of third party mobile payment and the study of risk prevention measures. First the summary of the status of third party mobile payment is provided. Then the wechat payment is taken as an example to analysis the risk type of third party mobile payment. And this paper tries to from four aspects, including the external environment, the third-party mobile payment company, industry and users, to analysis the risks of third party mobile payment so as to analysis the risks scientifically and comprehensively. At last, this paper attempts to put forward comprehensive risk prevention measures from three aspects, including the regulation, the third party mobile payment companies, and users.In third party mobile payment field, due to the wechat red packet, wechat payment has a large market share and massive users. Therefore, this paper takes wechat payment as an example. This paper introduces the function of wechat payment, safety management, and analysis the case of wechat payment risks, including compliance risk, Internet fraud risk, technical risk, crime risk and competition risk. And then this paper tries to from four aspects, including the external environment, the third-party mobile payment companies, the industry and users, to analysis the risks of third party mobile payment so as to analysis the risks scientifically and comprehensively.From the aspect of the external environment, The risks include policy and legal risk and network security risk. From the aspect of the third party mobile payment companies, the risks include management risk, operation risk, monopoly risk and credit risk. From the aspect of the industry, the risks include industry standard risk and market risk. From the aspect of the users, the risks include the user's illegal risk, the user's credit risk and user's risk awareness risk.At last, this paper attempts to put forward comprehensive risk prevention measures from three aspects, including the regulation, the third party mobile payment companies, and users. From the aspect of regulation, government should improve the access and exit mechanism, strengthen routine supervision, improving relevant legal system and implement comprehensive supervision and dynamic supervision. From the aspect of the third party mobile payment company, the company should strengthen system payment security, improve the certification and information protection system, implement the risk warning obligations, strengthen the management of credit card payment, establish the user credit evaluation system, improve the risk compensation mechanism, strengthen staff management, compliance with regulatory requirements, establish industry association, and improve service quality and product innovation. From the aspect of users, users should correctly understand the risk, pay attention to payment security, enhance awareness of fraud prevention, feedback actively and use law as a tool.This paper attempts to analysis the type of risks of third party mobile payment and finally countermeasures and suggestions for risk prevention are provided. However, due to the limitations of author's knowledge and academic level, there are still many shortcomings and deficiencies in this paper. The author hopes to get the criticism and suggestions from teachers.