Research On My Country's Online Lending Model And Its Risks Relying On Third-party Payment Platforms

The development of the Internet technology and the driving force of financial technology provide wide space for financial innovation.In recent years,the lack of services such as banks and other traditional financial institutions has brought opportunities for the development of Internet financial models such as the third party payment and network lending.At the same time,such factors as government support and regulatory lagging behind lead to the explosive growth of Internet financial scale in the past few years.However,risk and opportunity coexist,in the process of Internet financial development,the risk of borrowing and borrowing,fraud and other risk events emerge in endlessly,which seriously affects the healthy development of the Internet financial industry and the stability of the financial order.Payment,as an infrastructure for financial transactions,is born with the advantage of cutting into other financial services.As the pioneer of Internet finance,the third party payment has developed from the e-commerce payment platform to a comprehensive financial service platform,which integrates payment,financial management and loan.The third-party payment platform integrates "information flow,payment flow and capital flow".The network lending service,which is based on the third party payment platform,has great advantages in many aspects,such as the number of users,the accumulation of transaction data,financial resources and so on.It provides convenient and quick credit services for small and micro enterprises and low-income groups.However,it is worth noting that relying on the third-party payment platform itself and relying on the platform of credit and finance has become an ineligible part of the shadow banking.It also brings unpredictable potential risks while improving the level of financial services equalization.Each economic subject is covered by a huge network of debt and debt relations in the economic system.The emergence of the third-party payment has changed the traditional payment system,making the debt chain more complex in the economic system.Depending on the third-party payment platform,the network loan is often satisfied with the group,which is difficult to obtain financing from the formal financial system.If the expansion of the debt leads to the accumulation of risk,once the risk occurs,it will spread to other economic subjects through the complex debt chain in the economic system,which will damage the vital interests of many financial consumers.Through the analysis of the development and supervision status of the third-party payment platform and network lending in China,it is found that the Internet lending relying on the third party payment platform is an innovative product of the development of Internet finance at a certain stage.And its illegal collection,third party payment licenses and loans are exposed at the same time to improve the financial benefits.Chaos caused widespread concern among regulators and public opinion.Most scholars affirm the generalized financial utility of the credit model.The research on risk is mainly from the loopholes and shortcomings of the regulatory system,and it does not fully reveal the network lending mode and risk of our country relying on the third-party payment platform.Therefore,from the two perspectives of traditional credit theory and endogenous money and credit theory,this paper makes a comprehensive analysis of the Internet lending mode based on the third-party payment platform.The interpretation part based on the perspective of traditional credit theory reveals the operation process and risk point of the credit model,but there are shortcomings and cannot fully reveal the nature and risk of the network-lending model relying on the third-party payment platform.Next,based on the perspective of endogenous money credit theory,this paper analyses the nature of the third-party payment platform,analyzes the relationship between capital flow and debt in the process of credit creation by means of balance sheet.Comparing the process of bank credit creation,it shows how the network lending relying on the third-party payment how to realize operating like bank.The operation process reveals the essence of the credit mode and the risks it brings to the financial system.Finally,based on the above research results,we put forward the policy suggestions,hoping to realize the internet financial supervision with the goal of financial stability from the policy level,and improve the equalization of financial services so that the real economy and the financial system can run and develop healthily and orderly.