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Web of Proceedings - Francis Academic Press

Research on Legal Regulation of Third Party Payment in Internet Finance

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DOI: 10.25236/icepbm.2018.18

Author(s)

Mu Chenlu

Corresponding Author

Mu Chenlu

Abstract

The third-party payment refers to the acquisition of the license by the business as a separate entity from both parties to the transaction in an open network environment through data exchange and verification of information. Users and commercial banks can achieve network payment connection function, the final buyers, sellers and commercial banks in the payment platform complete a transaction settlement. Third-party payment provides a convenient fund circulation channel for online transactions and promotes the rapid development of Internet finance. However, due to the imperfect legal system in China, there are still some risks and problems that need to be solved in the third-party payment industry. Based on the analysis of the status quo and legislative defects of third-party payment in Internet finance, this paper puts forward suggestions for constructing legal supervision mechanism of third-party payment in order to standardize and promote the development of third-party payment industry in Internet finance.

Keywords

Legal Regulation, Third Party Payment, Internet Finance.