Research On The Protection Of Consumer Rights And Interests In WeChat Pay

With the popularity of the Internet all over the world and the development of E-commerce,the way of payment is continuously being innovated.As a new method of payment,the third-party payment is rapidly developing in recent years and gradually takes the place of the traditional way of payment due to its quickness and convenience.Currently,the scope of the WeChat pay is continually expanding and it has become the main payment way of E-commerce.It has deeply changed consumers'conception and the way of payment in our country.Since the WeChat is a new things,lots of related regulators and laws need to be set up and developed,and the violation of consumer rights and interests in WeChat pay is very serious.Thus,it is important and meaningful to research the protection of consumer rights and interests in WeChat Pay.By analyzing the potential risks of violation of consumer rights and interests,such as financial security and privacy protection,some useful suggestions is put forward to protect consumers in WeChat Pay.This paper firstly introduces the concept and types of third-party payment,and the development process and payment process of WeChat Pay.Meanwhile,the WeChat Pay is compared with the Alipay in trading volumes,trading frequencies and customer persistence.Subsequently,by studying typical examples of violation consumers rights and interests in WeChat Pay and the experiences of America and Europe,some policy suggestions is put forward.This paper holds that,for the sake of consumer rights and interests protection,it is essential to raise the entry threshold of the WeChat platforms,set up an exclusive regulatory agencies to supervise payment safety.Referring to the terms of service of banks to protect the consumers fund security and the privacy,it is necessary to set up special department to manage and control strictly information disclosure.Certainly,consumers themselves also should enhance their awareness of protecting their own rights and interests by much more government policy propagation.