A Study On The Regulation Of The Abuse Of Market Dominant Position By Third Party Payment Platform In China

With the development of the third revolution of science and technology,the development of the information Internet has given birth to a variety of new economic forms and transaction methods.The traditional payment is generally accompanied by the corresponding value carrier as the basis for the acquisition of various material media.As an important form of electronic payment,in the past 20 years,third-party payment has led to a revolution in payment methods and even the payment industry.At present,the third party payment represented by Alipay in our country has a representative concentration of scale enterprises in the industry.It controls major market transactions and shares.The number of third-party payment licencee is just over 200 in the country,using industry concentration measurement methods and the Herfindahl-Hirschmann index to share the third-party payment market.Market competition and market monopoly analysis can clearly see that the third party payment market in our country has the structural characteristics of oligopoly.The third party payment market is different from the traditional unilateral market.It has the characteristics of market cross network externality and typical bilateral market,which can easily lead to excessive concentration of the third party payment industry market,resulting in market failure.As a result of a series of abuses committed by oligarchs in the third-party payment industry using their dominant position,the result is not only the exclusion of the third-party payment industry,but also the restriction of competition.This will lead to mismatch of market resources and decline of social welfare as a whole.The more development of third-party payments,the more important the existing economic system,market structure,and institutional system of our country will become.The impact on the old system is also increasing.If the anti-monopoly law is not adopted to regulate effectively,there is no proper system and regulatory agencies to manage it.Then the legal risk of third-party payment will be more and more serious to the operation and impact of our country's economic market.