Situation and Regulation of the Third-party Payment: Observation from the

Internet Financial

100029 100029

Jiang Xianling Xu Xiaolan

Abstract: With the rising of internet finance, the innovations of third -party payment services in China target in
financial areas such as funds allocations which raise big challenges to its current supervisory framework. Reforms
have to be in place to address issues such as low legislation level, high entry to the market, simple supervision
model and ineffective supervision. Based on the experiences of EU and the US, we suggest a combination of
institutional supervision and functional supervision, a lower entry with more workable measures be adopted to adapt
to the new changes in the payment market.
Key words: internet finance, third-party payment, financial supervision

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Reform

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2014 3 58
[4]London Economics. Study on the Impact of Di-
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site of European Commission, February 2013, p. 10.
12 [5]Eniola Akindemowo. Recalibrating Abstract
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of FDIC, April 2005, p.3.
[7]
2012 1 97

2014 6 244