Research On Financialconsumer Protection After The Unified Clearing Approach Applied To Third-party Payment

Protection of financial consumer of third-party payment is the prerequisite to promote financial innovation and achieve financial fairness.Third-party payment institutions dominate the flow of payment transactions and data flows by directly connecting commercial banks and self-clearing,creating a profit-making model that implicitly benefits customers' reserves.This will endanger the financial rights and interests of financial consumers,causing the regulatory authorities Duty to fulfill difficulties,breeding systemic financial risks.The emergence of a unified transfer settlement mode will shift the risk of third-party payment industry,but there are still problems left over and even spawn new risks.Functional integrity of financial markets and financial consumer protection need institutional guarantees.At present,China's third-party payment industry legislation lags behind,the existing provisions are more principled,declarative and fragmented,lack of maneuverability,and donot pay any attention to the financial consumers' rights and interests.This article will examine the third-party payment of consumer protection experience in Europe and the United States to put forward suggestions to improve the system to adapt to our situation.The first part of this article will introduce the basic theory of third party payment financial consumer protection and the connotation of unified transfer and settlement mode,and clarify the basic concepts for subsequent research.The second part will analyze the risk changes faced by the third-party payment industry due to the emergence of unified transfer and settlement mode,and point out that the current financial consumer protection needs to focus on data rights damage and financial security.The third part will introduce the third-party payment industry in Europe and the United States legislation and practical experience,mainly from the consumer protection of property rights and data rights and interests protection can focus on the contents of reference.The fourth part puts forward some advices to our country's third-party payment financial consumer protection measures,in order to establish the rights of financial consumers,standardize the fulfillment of obligations of payment agencies and promote the self-discipline of the industry to protect the rights and interests of the data,and to establish the consumer insurance and loss compensation mechanism.