Research On Government Regulation Of Third-party Payment Platforms In China

Third-party payment platforms are developing rapidly in China and have affected all aspects of social life,especially in the financial service industry.Third-party payment platforms meet users’ more refined needs through their convenience.At present,China’s third-party payment market is gradually transforming from explosive growth to high-speed and stable growth,but the third-party payment market is still an emerging market full of potential.The third-party payment industry has a great influence on other industries,and it faces many problems in the industry,such as insufficient protection of consumers’ personal information,money laundering risks,and the precipitation of industry funds.In addition,with the development of third-party payment platforms,the trend of oligopoly in the industry is very obvious,and small and medium-sized enterprises in the industry are struggling to survive and face fierce competition.All these problems require Chinese government departments to take necessary laws and regulations to restrain them and relevant regulatory departments to take measures to supervise them.Based on the analysis of the development status of third-party payment platforms,this paper analyzes the existing regulatory problems,current governmental regulatory measures and measures to improve governmental regulation in the current third-party payment industry from the perspective of government regulation.Firstly,through a large number of research literature,this paper summarizes the research situation of domestic scholars from three aspects:the definition of third-party payment,the necessity of controlling third-party payment and the measures of controlling third-party payment.Then from the concept of third-party payment and the control of the situation of foreign scholars are summarized.To our country third party payment then this paper analyzes the related concept of government regulation,and gives the definition of third-party payment platform,combed the incentive regulation,economic control,information asymmetry and externality theory concept,and then through a lot of the third-party payment industry statistics of industry current development status,combined with China’s central bank announced on third-party payment of laws and regulations,the current our country third party payment control measures and control situation is analyzed,and argues that China’s restrictions on third-party payment aspects of deficiencies.Finally,this paper holds that the regulation of third-party payment in China has gradually changed from deregulation to strengthening regulation with the development of third-party payment industry,which has gradually solved the precipitation fund problem of third-party payment.However,the relevant legislation of third-party payment still needs to be further promoted.The third-party payment industry is a rapidly changing industry,so relevant regulatory measures need to be updated in time with the development of the industry,and forward-looking regulatory measures should be formulated.In addition,more attention should be paid to the security of consumers’personal information in the third-party payment industry,and the national credit information system and the enterprise credit information system should be connected to learn from each other.