Research On The Legal Issues Of The Protection Of The Rights And Interests In Third Party Payment Financial Consumers

The asymmetry of network information and the virtuality of e-commerce activities create trust issues for both parties involved in online transactions,which in turn hinder trading activities.In this situation,the emergence of independent credit intermediaries from both parties effectively aleviates related conflicts and largely solves credit problems in e-commerce activities,the third-party payment is arisen on this basis.In recent years,the third-party payment industry in China has developed rapidly,with a rapid increase in market share.The development situation of the third-party payment industry is good,however,there are some problems in practice,such as the vulnerability of financial consumers’ rights to infringement and difficulties in safeguarding their rights in third-party payment.This deviates from the original intention of third-party payment to bring convenience to people’s lives,and in this context,it is necessary to analyze the reasons behind this phenomenon to achieve comprehensive and sufficient legal protection for the rights and interests of financial consumers.Focusing on the protection of financial consumers’ rights and interests in thirdparty payment,this paper summarizes the necessity of financial consumers’ rights and interests protection in third-party payment through consumer sovereignty theory,bounded rationality theory and information asymmetry theory.In theory,clarify the key content of financial consumer rights protection in third-party payment.In practice,this paper summarizes the legislative and practical status of financial consumer rights protection in third-party payment,and provides ideas for resolving third-party payment disputes.The article mainly adopts two research methods to conduct problem research.Firstly,using literature analysis to summarize the relevant research results on the protection of financial consumer rights and interests in third-party payment in China,it was found that there are many shortcomings:(1)There is no consensus on basic conceptual issues.(2)The relative separation between third-party payment and financial consumer research.(3)Focusing on the standardized development of the thirdparty payment industry,there is a lack of policy research that combines macro and micro perspectives.Secondly,using the normative analysis method to sort out the legal norms for the protection of the rights and interests of financial consumers in third-party payment,it was found that there are the following problems:(1)The relevant regulations are scattered and lack systematicity.(2)The external regulatory norms for third-party payment need to be further improved.(3)Legal documents follow the inherent system architecture of traditional consumer protection and lack in-depth exploration of the relationship between traditional consumers and financial consumers.At the same time,this article analyzes the status of the protection of the rights and interests of financial consumers in third-party payment,this paper discovers issues such as difficulties in safeguarding financial consumers’ rights to know,information security,and fund security in third-party payment,as well as difficulties in safeguarding financial consumers’ rights in third-party payment.The main causes of these problems are the risks and challenges of financial technology,the insufficient effectiveness of financial consumer rights protection and regulation in third-party payment,and the limitations of existing dispute resolution mechanisms.Finally,relevant suggestions are proposed to improve the protection of the rights and interests of financial consumers in third-party payment.Specific measures include strengthening institutional construction to better protect the right to know,information security,and fund security of financial consumers,improving regulatory methods for protecting the rights and interests of financial consumers in third-party payment,unblocking judicial relief channels for financial consumers in third-party payment,and constructing diversified dispute resolution mechanisms.