| The payment and settlement system organically combines the technology and system related to capital transfer,and its stability is an important cornerstone to ensure the healthy development of economy.At present,Chinese clearing system is being greatly affected by the crazy development of non-bank payment institutions’ online payment market.The background,operation and new problems of the unified clearing platform,which is set up in order to make the drastic changes in the field of network payment and clearing,deserve to be sorted out and studied."Internet + payment" has completely broken the shackles of traditional payment methods.Various forms of online payment have swept almost all payment scenarios.But the risks of clearing payments have risen.The deposited funds,mainly reserves,are prone to money laundering,illegal embezzlement,fraud,illegal operation and other illegal ACTS,and ultimately affect the entire financial system.In addition,due to the complexity of precipitation funds,the supervision on them has been lagging behind,and the concept of "excess reserves" used in regulations and rules cannot fully summarize the precipitation funds.In addition,there are still disputes in the academic circle over the ownership of the precipitation funds and the accrued interest,resulting in the precipitation funds becoming a lightning point in the payment and settlement system.In addition,according to Chinese authority,according to data from the dataanalysis firm Analysys,Alipay and WeChat Pay two large non-bank payment giant combined account for more than ninety percent market share,in the obvious market monopoly and control of the network almost pay the market development direction,also to some extent hindered the admission of new institutions,under this situation,online payment market formed the obvious oligopoly.Oligopoly on the negative impact of an industry is self-evident.All kinds of risks determine that the unsound payment and clearing market can easily lead to systemic risks,and the root cause is that the clearing business is not unified.As a result,it is difficult for The People’s Bank Of China to comprehensively supervise the payment business and capital flow.As a result,The People’s Bank Of China is unable to fully supervise the payment business and the capital flow.Internationally,the payment and settlement markets of European and American countries are relatively sound.Their third-party payment industry has developed ahead of Chinese,and it also relies on the economic advantages of developed countries to develop more mature.European and American countries have realized earlier that third-party payment must be strongly regulated.Federal and state governments in the United States,the European Union and its member states are within the jurisdiction of non-bank payment industry for the dual regulation,under the macro regulation according to the actual circumstances of the states or countries to refine the regulation,adopts the main method is based on the real economy by way of laws and regulations standard,main measures such as making independent legal laws and regulations or the relevant laws and regulations to supplement the original modification to adapt to the new terms of payment and payment.However,since there is no political basis for dual supervision in China,it is difficult for pure real economy laws to completely curb industrial chaos.Therefore,the regulatory authorities strategically applied the latest technology to build a network liquidation platform.From this,"network edition unionpay" be born suddenly.Led by The People’s Bank Of China and led by the China payment and clearing association,the people’s bank of China has established a network connection clearing platform for online payment to handle the payment business initiated by non-bank payment institutions(that is,third-party payment institutions)that interacts with Banks.It is the youngest financial infrastructure in China.In the field of clearing,the traditional unionpay mainly undertakes the offline inter-bank clearing business,while the network union clearing platform mainly undertakes the online inter-bank clearing business.After the preparation of 2016,started in 2017 and 2018 the sprint,snatched clearing platform using the new technology and new standard,a new path in new governance way,has quickly become one of the world’s largest payment and settlement body,has a positive impact on all parties pay chain,for the creative financial infrastructure provides a good example of payment and settlement system to the centralized management,but also to improve the efficiency of resource allocation of non-bank payment platform.The non-bank payment network with the core of network alliance has undoubtedly opened a new chapter in Chinese non-bank payment clearing market,and will even fundamentally subvert the original competition pattern in the payment market.But at the same time,there are some legal problems in the network clearing platform itself,and its operation will bring new legal problems.A more complete and stricter legal and regulatory system in the field of payment and clearing is the essential basis for the healthy operation of the network clearing platform.The people’s bank of China issued "on the network will be paid for non-bank institutions pay business processing by the direct model migration to made the liquidation platform notice clear request" relating to the bank account online payment "should be treated through the clearing platform snatched,but failed to clear offline mobile payment,virtual account whether straight pay,and so on supervision has made clearing platform,and in addition to an inter-bank business counterparts in abnormal transfer regulatory issues is a question.The basis for The People’s Bank Of China to perform its functions seems to be untraceable except for the people’s bank of China.The access mechanism and exit mechanism of the payment and clearing industry have not kept up with the development of the global market.As an institution organized and set up by the payment and settlement department of The People’s Bank Of China,although over 60% of the equity is owned by private payment institutions,it still has an obvious administrative nature.How to prevent theseparation between government and enterprise and excessive supervision is a problem that must be solved.As the only clearing platform that all non-bank payment institutions must access,the possible monopoly position also needs to be prevented.Therefore,after briefly introducing the relevant conceptual system in the first chapter,this paper,by combing and analyzing the three factors affecting the stability of the non-bank payment and settlement system,draws the view that non-bank payment must be uniformly liquidated,that is,demonstrates the necessity of the unified liquidation of non-bank payment.Then,in the second chapter,from the People’s Bank Of China dominated non-bank payment institutions established uniform clearing platforms-made clearing platforms,combing the basic situation of it,and then discusses snatched how clearing platforms through unified liquidation to eliminate the negative factors which influence the stability of liquidation system,which discusses the snatched clearing platforms as a unified clearing platform play a positive role.At the same time,as an emerging platform that will unify the clearing business of all non-bank payment institutions,it still has some limitations,such as unclear legal status,infringement of users’ personal financial information factor rights to a certain extent,and even failure to meet the current access standards of clearing institutions.Therefore,to maintain the stability of the payment and clearing system,we should not rely only on the online clearing platform,and we should not equate "unified clearing" with "only clearing".Therefore,we should explore more perfect non-bank payment and clearing modes.Finally,in the third chapter,based on the above,this paper puts forward the should eliminate regulatory limbo,snatched clearing platforms legal position,perfecting the related mechanisms and so on,the focus is on innovation put forward "unified liquidation" is not "the only clearing",this paper explore the rules of commercial bank supervision and settlement patterns,expect with commercial bank supervision and settlement patterns and snatched clearing platforms compete,constitute the payment and settlement of a healthier market.We can foresee a better future for the non-bank payment clearing market,from the regulation of the financial market by laws and regulations of the real economy tothe online clearing platform using cutting-edge technologies.After the online clearing platform,the Chinese government will further regulate other aspects of the financial sector through digitalization,so as to make China stride into the era of digital economy. |
