Studies On Legal System Of Non-Bank Payment Institutions Market Exit

The businesses of third-party payment platforms such as Alipay and Tenpay are mainly to provide payment settlement services for online transactions or offline transactions of customers(payees and payers).The business scope of the third-party payment platforms crosses the business of commercial banks.It was defined as a non-bank payment institution.Non-bank payment settlement greatly broke through traditional payment methods such as cash payment and bank payment,and enriched the financial payment system.However,non-bank payment methods have risks such as credit card cash out,money laundering,misappropriation of customer provision,illegal market access,and market withdrawal since its formation.To this end,the academic community has conducted in-depth research and discussion on the problem of credit card cashing,money laundering,customer preparation,and market access for payment agencies,and has reached a certain level of consensus.However,scholars and practitioners lack sufficient theoretical reserves and institutional arrangements for the issue of market withdrawal by non-bank payment institutions.In fact,non-bank payment institutions have the characteristics of large customer bases,long tail risks,and inter-regional contagiousness when the market exits.Improper disposal will affect the stability of the financial industry.For example,the capital gap caused by the withdrawal of payment service licenses by the payment institution for misappropriating the customer’s provision money,or the consumer’s running of the card,may not only result in the unchanging of online and offline transactions between the operator and the consumer,but also The public may have concerns and panic about the normal operation of the entire payment service market,and thus endanger the stability of China’s financial market.The author believes that it is of great significance to establish a legal mechanism to effectively guide and regulate the withdrawal of non-bank payment institutions from the market.In addition to the introduction and conclusion,the text consists of four parts.The first part is the necessity of the legal regulation of the market withdrawal of non-bank payment institutions.With the integration of non-bank payment institutions for online transactions and offline transactions and penetration of various industries and fields,non-bank payment institutions have become the infrastructure of the entire Internet business model based on the original online payment services.Indispensable link.However,the huge deposit funds held by non-bank payment agencies and the technical problems caused by the openness of the Internet have also brought corresponding risks.Therefore,the legal behavior of non-bank payment institutions is characterized by the coexistence of financiality,wide-rangingness,and high-riskness.At the same time,the market withdrawal of non-bank payment institutions not only has the potential to infringe on the legitimate interests of merchants and consumers,but also has a huge impact on the financial order under the leadership of the regulatory body.Therefore,it is necessary to establish a non-bank payment institution’s market withdrawal legal system for regulation.The second part is the main problem of the current market withdrawal of non-bank payment institutions in China.The main ones are: First,there are few legal provisions for regulating the withdrawal of payment institutions.The existing regulations are mainly based on regulations and normative documents,and most of them are principles and regulations.There are no specific operating rules and there is no mature legal system.Guideline;Second,the provisions on the conditions and routes for non-bank payment institutions to withdraw from the market are rough and narrow,lack of relevant procedures and relief provisions,and the provisions are duplicated,there is no development and innovation;Third,the rights and obligations of market withdrawal are not clear,the lack of Clear civil rights and obligations and administrative rights and obligations;Fourth,there is no follow-up rule in the market withdrawal process,and there is no corresponding guarantee mechanism for consumers’ related reserves such as provision and personal information.The existence of these problems may lead to confusion in the non-bank payment service market withdrawal,trigger damage to the legitimate rights and interests of consumers,and disrupt the risk of financial market order.The third part is the cause of the problem of the legal system for the market withdrawal of non-bank payment institutions in China.It mainly includes the following four aspects: First,there is no effective synchronization between industry innovation and legal regulation;the law regulation lags behind the law of industry innovation;it deeply influences the policy orientation of the regulatory authorities;and second,it guides the market withdrawal of non-bank payment institutions.The system is not perfect,and the neighboring system cannot supplement it effectively.The interests of market withdrawal cannot be better solved by the existing laws.Third,when the regulatory agency implements the regulatory power,it has its own administrative rules and preferences.There is a contradiction in the diversity of legal relationship adjustments,which is an important reason for the lack of related interest guarantee mechanisms in market withdrawal;Fourth,there is information asymmetry in the process of market withdrawal of non-bank payment institutions,making consumers’ funds and personal information,etc.Benefits cannot be protected in time.The fourth part is the improvement of China’s non-bank payment institution market withdrawal legal system.First of all,the basic principle of market withdrawal of non-bank payment institutions should be established,including the principle of appropriate intervention,the principle of timely processing,and the principle of protection of consumer rights;secondly,the rights and obligations of non-bank payment institutions for market withdrawal should be clarified,including civil rights obligations and administrative rights and obligations,for the parties to determine the corresponding rights and interests,in order to obtain remedies to provide the right basis;Third,to detail the conditions and the path of non-bank payment institutions to withdraw from the market,mainly to detail the procedures and deadlines for active withdrawal,increase the path to persuade withdrawal,increase Retirement mechanism for compulsory withdrawal;Fourth,establish a relevant interest protection system when the non-bank payment institution exits from the market,including the establishment of payment institution’s market withdrawal risk compensation system,protect the consumer’s reserve fund benefits,and improve the payment institution’s market withdrawal information protection system.,protect consumer’s personal information.