Legal Risk and Prevention of Third Party Electronic Payment in China

Abstract

Online shopping in China has developed over the years and the introduction of electronic payments has made online shopping much more convenient. However, the third-party payment industry faces signifi cant risks and threats due to various reasons such as laws, policies and markets. Currently, there are many regulatory documents on third party electronic payments in China, but due to the complexity and specialised nature of the Internet, it is diffi cult to cover all aspects of the regulatory frame-work. Based on the current legal risks of third party payments on the basis of foreign legal and regulatory experience, suggestions are made to improve the legal framework for third party payment risk control in the light of national conditions.