Study on Legal Risks and Regulatory Countermeasures of QR Code Payment

The payment method of QR code payment which represented by Wechat and Alipay has been generally popularized. While convenient payment ways provide us some consumption advantages, it also bring some new challenges to the transaction risk prevention and control of QR code payment. In recent years, the legal risk of QR payment has become conspicuous in our country. Among all of the legal risk performance, the QR code payment micro risks are shown as the disclosure of consumer personal information, flooding of format clauses and QR code payment fraud. While the macro QR code payment risks are mainly reflected in the failure of monetary regulation policy, the lack of regulatory trading platform. This paper will clarify those problems existing in the QR code payment regulatory mechanism by explaining the risk theory of QR code payment and analyzing the risk causes at present stage in our country. Finally, this paper proposes to improve the effectiveness of China's QR code payment legal supervision from the aspects of sound supervision laws, clear supervision bodies, perfect supervision mechanisms, and innovative supervision methods. All efforts are aimed at opening up a healthy and positive development path for emerging payment methods in the market economy.