Reasearch On The Legal Issues Of Abuse Of Dominance In China’s Online Payment Industry

With the creation of rich payment scenarios for online payments by operators such as e-commerce and social software,which rely on user traffic to produce operations,in recent years,new third-party-led payment tools have broken the traditional payment system with banking institutions as the hub.The problem of monopoly caused by large fintech companies dabbling in segments of China’s financial industry and taking advantage of data to expand their capital in a disorderly manner has become increasingly prominent.This article focuses on the legal aspects of the abuse of dominant market position in the online payment industry.By sorting out the disputed anti-monopoly cases in China’s network payment industry,it can be found that the anti-monopoly problem in China’s network payment industry is focused on the abuse of dominant market position,and there are four major dilemmas in the determination of such behavior: complexity in the definition of the relevant product market,limitations in the criteria for determining the dominant market position,uncertainty in the determination of the abusive behavior and conflict in the jurisdiction of the regulatory authorities.To solve the above dilemma,it is necessary to learn from the relevant anti-monopoly provisions of the platform.The analysis is based on bilateral characteristics,network externalities,asymmetrically skewed pricing structure,dynamic competitive environment,cross-border competitive characteristics,transfer costs and user lock-in effect,etc.,to improve the alternative analysis method to define the relevant market of online payment industry.From the four aspects of competition analysis,control ability and dependence,vertical integration profitability and market entry difficulty,a new idea for determining the dominance of a single market in the field of online payment is proposed,and the rules for determining the dominance of the common market are improved;In terms of the resolution of uncertainty in the determination of abusive conduct,the analysis of different abusive conducts combined with actual cases and specific suggestions are put forward;Finally,in view of the conflict of jurisdiction,it is proposed that China’s network payment industry does not belong to the area excluded from the application of anti-monopoly,and that China’s network payment industry anti-monopoly should be unified in terms of law enforcement,specifically including the formulation of anti-monopoly regulations for the network payment industry,highlighting the focus of anti-monopoly enforcement in the network payment industry.In particular,this includes formulating anti-monopoly regulations for the online payment industry,highlighting the focus of anti-monopoly enforcement in the online payment industry and urging financial regulators to implement a fair competition review of regulatory measures in the online payment industry in order to exclude undue restrictions on competition in the online payment industry.