A comparative study on third-party payment system in Taiwan

• Main Authors: Hung-Yi Chen, 陳弘益
• Other Authors: 蘇怡慈
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/32866892176532195075

碩士 === 國立中興大學 === 法律學系科技法律碩士班 === 102 === With the development of network technologies, the popularization of information equipment and the transformation of transaction types, such as e-Bay in America, Taobao in China and Rakuten in Japan have all become very successful e-commerce platforms. A total trading value in China even achieved 35 billion RMB on November 11th, 2013. Moreover, China''s Ministry of Commerce predicts that the e-commerce trading amount will exceed 18,000 billion RMB by 2015. There is no doubt that e-commerce has a very promising future. However, as different from traditional entity transactions, the e-commerce platform online payment bears high risk. As a result, the internet third-party payment platform, as a financial innovation, emerges to provide secure transactions as online escrow for e-commerce at the right moment. To facilitate the development of e-commerce industry in Taiwan, a stored-value third-party payment business run by non-financial institutions is under a positive development. Although the third-party payment industry is constantly expanding its business, specialists and scholars from the Ministry of Economic Affairs and the Financial Supervisory Commission are still at a stage of drafting the bill. There are still have some issues about financial supervison of third-party payment. Taiwan should not only promote the stored-value third-party payment business operated by non-financial institutions, but pay attention to e-commerce market. Since China is one of major e-commerce markets in the world, the third party payment related regulations in China could be valuable references to Taiwan. Besides, based on impacts of Lehman Brothers and subprime mortgage loan in previous years, it is found that the domino effect in contemporary monetary market can also exert influences on the whole world. Consequently, for financial regulation, privacy protection and antitrust, how to improve the legislation of third-party payment is an important topic. Although most internet third-party payment businesses are established based on large-scale e-commerce platforms, there are still some unsolved problems. First problem is the qualification of e-commerce platform. Second problem is how to prevent personal stored-value account (sedimentary money) from embezzling by third party payment company. Third is the difficulty to, establish the supervison system. Third-party payment institutions may be involved with issues such as cross-border payments, sedimentary money and re-investments. Therefore, the supervising system estabishment will still remain a challenge. Hence, the key should be establishing the appropriate third party payment supervising policies and law in Taiwan.