First International Symposium on Data,

Analysis of Current E-Payment Solution in China--Third Party Payment Platform
Nie Jin
School of Information Management
Wuhan University
Wuhan P.R.China 430072
Email: nie_jin@yahoo.com from Master Card and Visa [5]. This paper presented that establish an effective credibility guarantee system is important to the e-business development in China. Based on the analysis of different payment systems a third party payment platform is one way to avoid credibility and security pitfalls in e-business monetary transaction in China at present.

Abstract—Electronic business and especially electronic payment systems have been flourished in the past decades.
Securely transfer monetary value can establish e-business participants’ confidence and facilitate the e-transaction process. Establishing the guaranteed credibility system can effectively strengthen the electronic business growth. This paper presented that setting up an efficient credibility system will improve
Chinese
e-commerce environment. Implementing the third party payment platform would be one of the effective solutions to Chinese e-business monetary transactions at present.
Key words: electronic payment system, third party payment platform, credibility system

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Credibility has always been a virtue in Chinese culture.
China used to be under central planned economy. Central government controlled the whole nation’s economic activities and guaranteed almost all of business and economy transactions. Individuals and private transactions were prohibited by the government. There was no need to have trust and credibility system. Today, the market economy is still fledging in China, such a national system has been called for only in recent years when the lack of creditability has become a “bottleneck” restricting economic development