Risk And Safety In The Third-Party Payment Services

Online, April 1, 2012 (Newswire.com) - As it's known to all, the rapid development of third-party payment has benefit from the support and cooperation of commercial banks. Banks provide a more solid foundation both for the financial security and commercial credit, and also make a great contribution to the rapid growth of third-party payment industry. However, the rapid development of third-party payment also restricted the business of banks to some extent. For example, many commercial bank branches can provide payment services of utilities and phone bills for consumers; however, this could also be achieved through third-party payment instruments. As a result, it reduced banks' non-interest business income.

ZhaoYuzi, member of the CPPCC National Committee and general manager of construction card center announced yesterday that managing the payment industry was not an easy task. Banks have made accumulation of professional talents and experience through so many years' efforts. As for the third party payments, which require high technical and personal management, the magnificent potential risks resulted from the huge business volume and complexity of transactions when suddenly faced with such a large system in the country is known to all. What worth to be mentioned is the "first violate and later approved" and "first breakthrough and later drawback" phenomenon in the third party payment. The multiple roles the third parties are playing make them seemed a little powerless confronted with this situation. At the same time, the existing management measures does not provide a clear approach to the business of the credit operations carried out by the third party.

International payments and industry analyst ZhangMeng said that the Non-financial payment services management approach put forward by the central bank has introduced the requirements for the third party payments. According to ZhangMeng, risk and safety control have been regarded as their major work. Although the payment institution has made repeated efforts, but there are still some gaps when compared with the banks which has rich experience. Some relevant responsible person in companies like Alipay and GlobeBill(www.globebill.com) said that they have established a professional risk management department.in accordance with the provision.