Research On The Risk Of Third-party Electronic Payment In My Country

With the continuous development of ICT technology and the popularity of the Internet and mobile terminals,third-party electronic payment has been rapidly developed due to its security and convenience.As a payment intermediary,third-party electronic payment improves the distrust of both sides of the transaction and the security of funds in the course of e-commerce transactions backed by the Internet,fundamentally changing people's lifestyles and spending habits.However,the third-party electronic payment regulatory policy has not been introduced until after 2010.This rapid development and continuous tightening of regulatory policies make it increasingly difficult for third-party electronic payments to make profits in traditional businesses.The new profits are long and have to break through innovation.It is precisely in such a situation of rapid growth and constant breakthroughs in innovation that the risks of third-party electronic payment are increasingly exposed.More and more uncertainties have hindered the orderly and benign development of third-party electronic payments..As early as in the 2004 Basel Agreement,there were definitions and classifications of operational risks.From then on,more and more studies on operational risks have been made.However,the current research on operational risks is focused on commercial banks.Third-party electronic payment is more important because of its strong technical requirements.Therefore,in this context,the research on third-party electronic payment risk is becoming more and more important.This article systematically studies the third-party electronic payment market from the perspective of theory,demonstration and comparative analysis.Starting from the status and characteristics of third-party electronic payment,we will explain why there is a third-party electronic payment from the perspective of information asymmetry,and use the bilateral market to analyze the high oligopoly characteristics of the third-party electronic payment market.On this basis,the risks of the third-party electronic payment market are analyzed,the operational risks are analyzed,and the risks under the traditional payment methods are compared to further analyze the causes of these risks.Based on the R language,the third-party electronic payment operation risk is measured by the BMM model and the POT model respectively.The data includes legal losses to more fully measure operational risks.The defects of the BMM model were confirmed through empirical analysis.At the same time,because of the limitations of VaR,ES was added to measure the third-party electronic payment operation risk in China,Combined with the data and empirical analysis results,the risk of third-party electronic payment operations is further subdivided and the reasons behind it are analyzed.Finally,it compares and analyzes the status quo of the supervision of third-party electronic payment at home and abroad,and draws more inspiration on the basis of learning from foreign regulatory experience.Such as reducing the market access standards of third-party electronic payment companies appropriately,to reduce the current high oligopoly market characteristics.The empirical results prove that there are obvious fat tailings in operational risks,and the cost of the company's risk reserve is too high,so the improvement of internal control of the company is more important.Enterprises need to pay more attention to risk control in advance and reduce regulatory costs.At the same time,we should continue to improve the law by adopting international experience and implement a multi-level supervision model.