Analysis Of The Settlement Risks And Countermeasures Of Cross-border Payment Business Of Non-bank Payment Institutions

In recent years,the development of cross-border trade has become a new trend of international trade and a new opportunity for China's foreign trade development.With the rapid development of cross-border trade,Internet-based cross-border electronic payment is increasingly becoming the main choice of payment methods for enterprises.In the past three years,the import and export volume of China's cross-border e-commerce customs increased by more than50% annually.Since 2016,T Electronic Payment Co.,Ltd has set up cross-border exchange business globally and provided RMB collection and payment services for amazon and other well-known cross-border e-commerce platforms.The quality and scale of its cross-border payment business are in a leading position among all the non-bank payment institutions in china.T company has created a "global payment solution" with "cross-border payment,mobile payment,O2 O payment and big data risk control" as its core business.However,due to the professionalism and complexity of cross-border payment services,and with the rapid development of global e-commerce,It faces many settlement risks in the process of engaging in cross-border payment business.This article takes T company as an example analyzes the risks of cross-border payment and settlement and puts forward some countermeasures and suggestions.Firstly,this paper summarizes the risks of internet finance.Internet finance risks include not only the market risks,liquidity risks and creditrisks,which are popular exist,but also include the legal risks and technical risks,which are unique.Secondly,analyzes the risks of third-party payment.Third-party payment risks include information technology risks,credit risks,precipitation fund risks,money laundering risks and legal risks.In the end,the risks of cross-border payment business are summarized.The risks of cross-border payment are mainly reflected in network security risks,trade authenticity risks,fraud risks,legal risks and credit risks.Based on the author's practical experience of work,this paper classifies cross-border payment and settlement risks into two kinds,including platform risks and users risks.Platform risks include information management risks,fund management risks and platform credit risks.Users risks is divided into users illegal risk,and users risk-awareness risks.In addition,this paper briefly summarizes the external environmental risks,including policy and legal risks,network security risks and exchange rate volatility risks.After the analysis of risk types and risk causes,this paper also proposes some countermeasures,and takes PayPal as an example to test the proposed strategies.This paper argues that in order to prevent information management risks T company should use advanced information technology to store customers' information,analyze transaction datas,strengthen personnel management,and formulate rules and regulations.To prevent fund management risks,T should fully mobilize the company's resources of overseas and domestic cooperative institutions,provide all-round management plans of customers' accounts and funds.To prevent platform credit risks T should improve the efficiency of internal control,implement the responsibility to person;To prevent users from illegal risks T should build a more perfect anti-money laundering data model,analyze the transaction behavior and construct its credit image for internal use or industry communication,freeze funds in the first time.To prevent the risk awareness of users T should strengthen the education of customers on the correct understanding of cross-border payment tools,provide reasonable risk tips.