Риски и регулирование сторонних платежей в Китае

Аннотация

Since the beginning of the 21st century, with the development of fi- nancial technologies and rapid growth of e-commerce, third-party payment (such as Alipay and WeChat Pay) has become a widely used payment method in China. Third- party payment provides convenience to the economy and society, while there are po- tential risks, which is forcing the introduction of regulation. This paper analyzes the financial risks in the context of third-party payment and the regulatory measures adopted so far, and proposes prospects for improving the effectiveness of regulation. Keywords: third-party payment, e-commerce, privacy, security, risk, risk pre- vention, regulation РИСКИ И РЕГУЛИРОВАНИЕ СТОРОННИХ ПЛАТЕЖЕЙ В КИТАЕ Аннотация. С начала XXI века, с развитием финансовых технологий и стремительным ростом электронной коммерции, сторонние платежи (такие как Alipay и WeChat Pay) стали широко распространенным способом оплаты в Ки- тае. Сторонние платежи обеспечивают удобство для экономики и общества, но при этом существуют потенциальные риски, что вынуждает вводить регулирова- ние. В данной статье анализируются финансовые риски в контексте сторонних платежей и принятые на данный момент меры регулирования, а также предлага- ются перспективы повышения эффективности регулирования. Ключевые слова: сторонние платежи, электронная коммерция, конфи- денциальность, безопасность, риски, предотвращение рисков, регулирование Introduction. Third-party payment refers to a payment service provided by a non-banking institution for fund transfer, payment and settlement through the Internet or mobile devices [1; 2; 3]. With the development of financial technologies and the rise of e-commerce, third-party payment has rapidly spread worldwide and become an indispensable part of the modern financial system. In China, the competitive pattern in 211 Digital Technologies and Law (секция на английском языке) the payments industry can be summarized as a “2+1+N” structure: Alipay and WeChat Pay account for nearly 60% of transactions; UnionPay provides key clearing and set- tlement services; and a few third-party licensed payment companies are competing for market share in this field. According to the statistics of China Internet Network Infor- mation Center, the proportion of China's online payment user scale to the overall num- ber of Internet users has stabilized at the level of over 85% in 2022. According to Mo- bile Payment Network, China's third-party payment transaction scale will be 338 tril- lion yuan in 2022. Third-party payments have played a positive role in economic and social devel- opment. Third-party payment has become an important part of e-commerce, effective- ly solving the problems of high cost and lack of credit in e-commerce [4][5]. Third- party payment is becoming increasingly important in the payment system, and the po- tential risks brought by new technologies and business models have put forward higher requirements for regulation. This paper analyzes the regulatory framework and poten- tial risks of China's third-party payment industry by reviewing the relevant regulatory framework, and proposes possible solutions to improve the effectiveness of regulation. Main part. 1. Development status and regulatory framework of third-party payment 1.1. Current status of development of third-party payment There is no unified definition of third-party payment in academic field current- ly. The emergence of third-party payment is mutually relevant to the development of e- commerce in the case of China. For e-commerce, electronic payment is an essential and vital instrument. The emergence of the third-party payment service is in line with the development of e-commerce, and is also one of the specific forms of online pay- ment innovations. Alipay is one of the largest payment platforms in China, which was introduced as a payment instrument for secured transactions to solve the trust issue that hindered the development of e-commerce marketplace of Alibaba [6]. The third- party payment service is based on large-scale online portals, and uses the credit of the banks with which it cooperates as its credit guarantee [7; 8]. In this context, third-party payment refers to a payment service provided by a non-banking institution for the pur- pose of transferring, paying and clearing funds via the Internet or mobile devices. Third-party payment includes online payment and offline payment. Online payment is usually used for e-commerce transactions, where users complete the payment through the third-party payment platform; offline payment is mostly observed in physical stores, where users complete the transaction through mobile devices. Figure 1 shows China's third-party payment market share in 2023 [9]. The data of China's third-party payment market share shows that Alipay, WeChat Pay, and UnionPay ranked the top three with market shares of 34.5 %, 29 %, and 10.2 %, respectively, and the sum of the market shares of these three reached 73.7 %, indicati