Research On Risk Supervision Of Third-party Payment In China

With the popularity of the Internet and the rapid innovation of information technology,Internet finance is ushering in a flourishing era,and becoming more and more closely with people's lives.Among them,the third party payment is the most important factor affecting people's lifestyles and consumption concepts.Since 1998,Pay Ease,which proclaimed the birth of the first third party payment platform in China,was established,the third-party payment agencies have been through a rapid development for nearly 20 years.From the initial payment and settlement,to medical care,payment and inquiry,the third-party payment agencies are profoundly impacting and changing people's lives.According to the ‘General Situation of Payment System Operation in 2017' issued by the People's Bank of China,the volume of online payment services of non-bank payment agencies has exceeded one billion yuan in 2017.IResearch Consulting believes that the third-party payment will continue high-speed growth inertia in 2018 and 2019,and market share will be more concentrated in high-quality companies,which refer to the duopoly to the third-party payment market-Alipay and Tenpay.However,with the expansion of the third-party payment market and business scope,problems from different aspects are also exposed,which further restrict the development of third-party payment industry and the stability of financial markets.Therefore,how to effectively control the risks of third-party payment and exert its leading role in the economy is becoming particularly important.Firstly,this article sorts out the development context of third-party payment in China,and raises the development dilemma in the emergence stage.Secondly,it takes Alipay,China's largest third-party payment agency,as an example,to enumerate and analyze the cases of interest rate risk,credit risk,regulatory risk,technical risk and operational risk in detail after analyzing its living environment,transaction process,and models.Thirdly,it introduces the third-party payment supervision system constructed in China,and analyzes the existing problems and the underlying causes of the problems.Finally,it proposes measures and suggestion to improve Chinese third-party payment supervision after comparing with and learning from foreign third-party payment supervision practice.