Research In The Legal Regulation Of The Third-Part Payment Risks

With the rapid advancement of Internet technology in recent years,third-party payment,a new electronic payment tool,is burgeoning in China.Third-party payment has entered the daily life of every member of society,brought tremendous convenience to public life,and become a significant symbol of the Internet revolution.Third-party payment institutions have built a secure and convenient bridge between the users of two parties,overcoming the risks of users trading in the virtual Internet world and making transactions between users more efficient and successful.In spite of the conveniences the newly-emerged third-party payment has brought to society,it also comes with risks which cannot be overlooked.At present,the regulation of risks of third-party payment in China's current laws mainly shows that the legal system is not yet complete and the legal level is relatively low.The regulation mostly focuses on rules and policy documents,resulting in ineffective risk control in practice and frequent damage to the interests of all parties.Therefore,on the basis of drawing lessons from and studying advanced experience in relevant fields in Europe and the United States and other countries,combined with the specific situation of China's third-party payment,this paper puts forward some legal advice on regulating risks of third-party payment in China.Apart from the introduction and the conclusion,this paper is divided into three parts,giving a comprehensive study and analysis of third-party payment risks and legal regulatory recommendations from the three angles of what,why and how.The specific contents are as follows.Beginning with the theory,the first part introduces the legal definition,features,and analyzes its operation mode and legal relationship.Combined with the concrete cases in practice,this part then analyzes the risks facing all parties in society when using third-party payment.Specifically,it includes risks faced by users,risks faced by the platform and risks faced by the national financial system.The second part analyzes the existing problems in the legal regulation of third-party payment risks in China from three angles: the regulation of users risks,the regulation of platform risks,and the regulation of financial supervision system risks.This part paves the way for the following recommendations.The third part draws lessons from the European and American countries' outstanding legislative experience.In view of the risks analyzed above and the existing problems in the legal regulation,this part makes suggestions based on the subject of risk.and proposes from a macro perspective establishing a sound credit mechanism,reinforcing the implementation effect of all the system recommendations.