85th Report in 2010: Third Party E-Payment as a Financial Services Innovation – Development, Issues, and Policy Recommendations | Chinese Academy of Science and Technology for Development

85th Report in 2010: Third Party E-Payment as a Financial Services Innovation – Development, Issues, and Policy Recommendations

March 23,2011

xiaoluo

Abstract: Third party E-payment is an independent, impartial, and personalized payment transaction and value-adding service provided to clients of government organizations, enterprises, and undertakings based on banks’ function of payment transaction through cooperation between the enterprises and the banks. Because the third party E-payment is an integration of IT and financial technologies, its development promotes social and economic development while inevitably exerts important influences on S&T and financial advancement. With reference to foreign experiences, the article analyzes the current situation and major issues in third party E-payment in China. Related policy recommendations are also proposed accordingly.