第三方支付平臺縱向一體化的反壟斷規制

Anti-Monopoly Regulation for Vertical Integration of Third-Party Payment Platforms

第三方支付平臺面臨著來自于上游銀行、同行業經營者以及下游電商平臺的多方競爭約束。而通過縱向一體化戰略的實施，不僅可以讓第三方支付平臺通過整合産業鏈而提升自身服務的質量，保證其在多方競爭壓力下獲得競爭優勢；還可以為其帶來強大經濟效率，加速數據資源的整合以及促進産業升級。不過在縱向一體化策略帶來的經濟效率之外，亦存在著諸多的壟斷隱憂。諸如對第三方支付市場進入壁壘的固化、對市場內其他經營者的排他性損害以及對消費者構成的剝削性損害，這都昭示著我國亟待針對第三方支付平臺縱向一體化進行反壟斷法規制。不過鑒于縱向一體化策略所産生的積極經濟效益，在對其進行反壟斷規制時，需要注重經濟分析，運用違法推定原則，采取較為溫和、寬嚴相濟的干預措施。在反壟斷規制政策的執行時，則需要協調好反壟斷局和中國人民銀行、國家金融監督管理總局的權限分工，促進兩類監管機構的友好磋商，信息共享，共同助推我國第三方支付行業的規範發展。

The third -party payment platform faces multi -party competition constraints from upstream banks, operators in the same industry, and downstream e -commerce platforms. The implementation of the vertical integration strategy can not only allow the third -party payment platform to improve the quality of its own services by integrating the industrial chain, and ensure that it can achieve competitive advantages under various competition pressures; The integration of resources and promoting industrial upgrading. However, in addition to the economic efficiency brought by the vertical integration strategy, there are also many monopoly concerns. For example, the solidification of the barriers to the third -party payment market, the exclusive damage to other operators in the market, and the exploitation damage to consumers’ composition all show that my country urgently needs to carry out antitrust regulations on the vertical integration of the third -party payment platform. However, in view of the positive economic benefits generated by vertical integration strategies, when antitrust regulation is carried out, it is necessary to pay attention to economic analysis, use the principle of illegal presumption, and adopt a gentle and strict intervention measures. When the implementation of antitrust regulation policies, the authority of the Anti -Monopoly Bureau, the RMB of the Anti -Monopoly Bureau, the People’s Bank of China, the State Financial Supervision and Administration Administration, promote the friendly consultation of the two types of regulatory agencies, and share information to jointly promote the third -party payment industry in my country.