The Consummation Research Of Third-Party Payment System

The rapid development of network led to the rise of online shopping industry. More and more people are attracted to start using online shopping because of its reasonable price and convenient service. In addition, with the simultaneous development of online shopping, the third-party payment which is known as convenient and security is coming out. as a new kind of payment method, third-party payment exceed the double restriction of security and credit problems of network payment to certain degree, promoting the development of online shopping greatly. However, we can find the vacuum of law and absence of supervision behind such a strong development momentum. In this situation, the future development of third-party payment must accept the huge legal risks and policy risks. How to make the healthy development of third party payment will be the vital issues which legislation must focus on in the future.In recent years, in order to regulate the third-party payment industry, a series of laws and regulations have been published, but most of the content are not specific and also lack of real operation. In this article, the author will define its function and role by analysis the third- party payment process, its concept and characteristics, and then through the actual development problems, propose specific legislative proposals. Final analysis of the legislative situation in China, in reference to Europe and other developed countries on the basis of legislative experience, combined with the actual development of the third party payment in our country, to expect to build out a legislative framework consistent with our national conditions. First, from the start with the third- party payment's own characteristics through the analysis of its process and overview feature, summarized in our country there are two different methods of payment, "supervision service mode" and "non-supervision service mode", the first one is the focus of the article. On the premise of definition of third party payment, then make a clear definition in law. Secondly, analysis the existing problems in the third-party payment system, such as the right as principal and the scope of business, the legal liability, the protection for consumers'rights, the online illegal transactions, the precipitation funds and the data security, and other legal issues. In Generally, These kind of problems are divided into Two aspects one hand because of legislative gaps, the third-party payment service providers should be liable for the obligation to protect the legitimate rights of consumer. There is no clearly defined, there are also many unreasonable phenomenon seriously against the legitimate rights and interests of consumers. The other hand, the law has no clear position on third- party payment, there is no specific regulators also there is no specific regulatory measures, lack of supervision system will bring adverse effects to third-party payment's future development. In this article through analysis and summary the reality legal problems, points out the relevant recommendation of the legal system, for example, provisions on protection of consumer privacy. When signed the service contracts with service providers highlights the role of consumer associations change the format of contract against the interests of consumers in the past, maintenance in the households of vulnerable consumers should have a legitimate heir. Clear attribution of Precipitation funds and interests to consumers, Through the analysis of several different violations in the reality, pointed out that service providers shall be liable for tort liability and the methods of bearing the liability. Finally, this article describes the advanced developed countries and other country's legislative experience, analysis of existing legislative deficiencies and defects. Combine with the third-party payment in the present situation of our country's development, on the basis of the developed countries legislative experience, made some recommendations for future legislation in China. First of all, perfect the basic principles of legislation, promote transactions, the protection of consumer rights, protect consumer's money safety, as the basic principles for the operation of the industry. Secondly proposed some specific legislative measures. For example a clear legal status of third-party payment service providers. Establish specific regulators and regulatory approach, establishing emergency mechanism for guarding against the risks. Finally, on the premise of national macro-control and supervision, develop the flexible role of industry association. Highlight the advantages of self-discipline and autonomy. Finally build a complete legal framework for the third party payment systems and create a favorable legal and institutional environment, enable the third party payment get a health and sustainable development within the framework of the law.