Exploration Of Single Purpose Prepaid Cards Management Patform Based On Social Co-governance Mode

Single purpose prepaid cards are issued and sold by the merchants through sharing appropriate profits with the customers in order to attract customers,increase customer stickiness or accelerate the return of funds to increase the liquidity.In nature,it is a relation of sales contract.However,in reality,the problems of single purpose prepaid cards have gone beyond this simple relation.Due to the information asymmetry between the two parties of transaction,consumer rights and interests are often violated,and it often involves many people.Mass events may occur and affect the social stability.As such,the government has to be involved and put forward some management measures,and as for the unused amount prepaid by the consumers,the government requires the merchants to use the fund deposit or the insurance bond or other methods as a required option for the filing of card issuance.Hence,banks,insurance companies and other third-party organizations also become the participants in the management chain of single purpose prepaid cards.As the problems of single purpose prepaid cards often become the hot social issues,the media is also one of supervisors in the management chain.Others such as the software companies that provide technical support for card issuing management of single purpose prepaid cards,the industry association related to single purpose prepaid cards and so on,they are also the participants in the whole chain.The complaint rate of single purpose prepaid cards always remains high and the risk events happened again and again,proving that there were problems with the management model in the past.Compared to the decentralized management in the US and the centralized management in Japan,our country's existing management regulations do not lag behind.However,due to the differences of social culture and foundation of integrity between the two sides,it leads to very different results of management.Therefore,it is urgently needed to explore a new management model.Some provinces and cities of China are also actively exploring this,such as Shanghai,Guangzhou,Zhejiang,Jiangsu,etc.Particularly,Shanghai has started to abandon the unitary management model of government and entered the social co-governance model of “multi-participation and collaborative governance”.The social co-governance model must clarify the responsibility of each participant in the chain: the card issuing merchants are the source of risks of single purpose prepaid cards,and they are the first person responsible;the consumers are the most direct stakeholder of single purpose prepaid cards,and they are the major driving force for the standardized management of single purpose prepaid cards;the government is the rule maker of business transaction and the vindicator of social stability.It is the protector of consumer rights and interests,and the most deterrent supervisor of card issuing merchants;the social third-party participants,including the media,the association,banks,insurance companies and other financial institutions,software companies and so on,are the indirect supervision power of single purpose prepaid cards.They can make up for the shortage of governance of single purpose prepaid cards by the card issuing merchants,the consumers and the government.The social co-governance model needs to reduce the collaboration cost and operate efficiently,and it needs to construct a single purpose prepaid cards collaborative management platform which must be built on the basis of “technology governance” and “rule of law”,and has the features of clear rules,transparent information,multiple participation,convenient collaboration and so on.The merchants issue cards by linking to the management platform.The consumers can check the balances of the cards they purchased and the degree of protection on the management platform at any time.Insurance institutions utilize the data on the management platform as the main basis for underwriting and claims.The media,through the management platform,can timelier collect and release the relevant information related to single purpose prepaid cards.The association,through the management platform,can serve and manage their members more conveniently.The government,through the management platform,can better carry out the warning before the event,intervention in the event,and punishment after the event to the risks etc.,and thus realize the management expectation of rule of law,and make the entire business transactions more honest and healthier.