What is e-commerce finance, what it includes, and what are the problems now?

1. Introduction:

E-commerce finance refers to P2P network and financial services provided by e-commerce, such as Internet payment currency, Internet credit, supply chain finance, pre-sale order financing, cross-border cooperative finance, intermediary business, currency exchange, account pre-deposit, payment tools, mobile payment and so on.

II. Including:

Internet payment currency, Internet credit, supply chain finance, pre-sale order financing, cross-border cooperative finance, intermediary business, currency exchange, account pre-deposit, payment tools, mobile payment and other financial services.

3. Difference from traditional finance:

The difference between e-commerce finance and traditional finance lies not only in the different media used in financial business, but also in the fact that financial participants know the essence of "openness, equality, cooperation and sharing" of the Internet, and relying on the network platform, traditional financial business has a series of characteristics such as greater transparency, higher participation, better collaboration, lower intermediate cost and more convenient operation. With Internet technology as the core, we will expand the financing channels for small and micro enterprises and solve the effective use of social idle funds. With the trend of the times and the development of science and technology, the rapid development of e-commerce finance has brought great changes to our life and work.

Fourth, the existing problems:

1. E-commerce contract problems: E-commerce contracts are mainly through electronic forms (email; Fax; Telephone; Or online spreadsheets, etc.). E-commerce is a paperless trade, which has changed greatly in form and legal effect compared with traditional contracts. This involves the legal status and effectiveness of digital signatures, electronic invoices and electronic contracts, which will inevitably lead to many problems. First, the two parties to an e-commerce contract basically do not meet, and both parties operate through a virtual network platform, and their credit only depends on password identification or certification by certification institutions. The virtuality of password certification and the diversity of certification by certification institutions lead to great doubts about the credit system of the contract.

2. Payment in e-commerce: The advantage of e-commerce is that it can realize zero-distance payment, zero-distance purchase and sale. Without safe and effective financial channels for e-commerce, especially electronic payment means, it is impossible to achieve "zero distance". However, the current financial payment methods in China are not perfect, and the electronic payment procedures of major commercial banks are complicated, and the data interaction has not yet been achieved, and a unified payment system has not been formed. When the parties in electronic transactions adopt different payment methods and these payment methods are incompatible with each other, it is impossible for both parties to complete the payment through electronic payment, and thus the transaction on the Internet cannot be realized. In addition, although the existing Alipay method has played a very good role in e-commerce activities, it is only a transitional product in electronic payment, which has obvious defects in solving the security of electronic payment and the real-time flow of funds, and cannot fully meet the requirements of financial electronicization.

3. security issues of e-commerce transactions: involving the following three aspects. First, there are great hidden dangers in the security management of e-commerce websites, which are generally vulnerable to hacker attacks, and the domestic security technology structure and encryption technology strength are generally insufficient; Second, the after-sales security of e-commerce transactions is also a vacuum zone. After problems occur, customers often don't know who to look for. Some people joked that "e-commerce is currently a' three noes' industry: there is no law to follow, no security to speak of, and no rules to follow"; Third, the security of e-commerce transactions lacks sufficient legal system support. At present, the protection of e-commerce transactions in China is mainly scattered in computer network technology-related laws and regulations and civil and commercial laws. There is no relevant special legal system, and there is confusion in system construction. In addition, the development speed of network technology is too fast, and the rule of law is far behind.

4. Protection of intellectual property rights in e-commerce: Intellectual property rights and tangible property have obviously different characteristics, such as monopoly, regionality, timeliness, invisibility, government confirmation and so on. Among them, monopoly (exclusivity) and regionality are more special. If intellectual property rights cannot guarantee the exclusivity of the obligee, the intellectual property system will not play its due role, and its rights will become a decoration. If the regionality is completely broken, rights may become the universal "global rights" or produce a worldwide unified system. E-commerce activities are based on the Internet, and the transmission of the network shows the global characteristics and state of "openness" and "borderless". "Openness" provides the premise for "public knowledge" and convenience for "public use"; "Borderless" makes the regional intellectual property rights severely challenged. Under the trend of internationalization of intellectual property protection, does the development of e-commerce lead to the true internationalization of intellectual property protection?

5. The intellectual property problems in e-commerce are mainly caused by the existing network technology to the systems of copyright, patent right and trademark right. The conflicts of intellectual property law on it are complex and difficult to eradicate, and some problems are still difficult to find effective solutions in the existing legal system.

6. Protection of e-commerce privacy: Internet privacy refers to a kind of personality right that citizens enjoy the peace of private life in the network and their private information is protected according to law, so as not to be illegally violated, known, collected, copied, used and made public by others; It also means that it is forbidden to disclose some sensitive information related to individuals on the Internet, including facts, images (for example, photos, videos) and defamatory opinions. At present, there are three major problems in the field of e-commerce privacy protection: personal information data protection, secondary development and utilization of personal data and personal data transaction. The proliferation of network infringement will weaken the integrity foundation of e-commerce transactions and is not conducive to the long-term development of e-commerce transactions.

7. Problems in the supervision of e-commerce finance: In recent years, in order to support the development of small and medium-sized enterprises, the central and local governments have successively issued a series of policies and regulations to regulate the financing of small and medium-sized enterprises. However, due to the late rise of online financing, there are no special laws, regulations, regulatory policies and related business guidance in China at present, and it is basically in the stage of regulatory vacuum. In the specific network financing activities, most financial institutions and third-party e-commerce service providers establish their own network financing norms on the basis of negotiation between the two parties, which are only applicable in a relatively narrow space, and there is a lack of effective communication between the fund providers. Without the guidance of the government, the supervision of the regulatory authorities and the dispute settlement mechanism, all parties to the transaction will face huge legal risks in the event of any problems in the process of online financing.

In terms of industry supervision, online loans, as a new thing, are bound to have new problems in the process of development. As B2B enterprises are not financial institutions, they are not bound by financial supervision, which provides flexibility, but also shows that the supervision of online financing is still in a blank state. Although the field of e-commerce has gradually developed and improved, the problems related to online financing are still lagging behind in legislation and supervision.

the problems of e-commerce finance at the platform level: at the platform level, the risks are relatively small for e-commerce enterprises that take the cooperative mode, but there are certain problems for enterprises that lend independently. For this kind of enterprises, there are restrictions on their own capital. According to the Guiding Opinions on the Pilot Project of Small Loan Companies, the sources of funds for small loan companies are limited to equity, donated funds and borrowed funds that do not exceed 5% of the net capital, which limits the lending scale of enterprises.

since the establishment of Zhejiang Ali Small Loan in 21, Ali Small Loan has put in more than 11 billion loans in more than three years. In the third quarter of this year alone, Ali Micro-credit accumulated loans of 2.8 billion yuan, which is equivalent to the total loans of this business by the end of 212. This figure seems to be very large, in fact, compared with the general city commercial banks, there is a big gap. What is particularly important is that the funds of Ali Small Loan are too small, and the funds available for lending by its two small loan companies are no more than 2.7 billion yuan, which greatly restricts the further development of this business.

There are risks in any loan, and the traditional banking industry, which has experienced a hundred years of development, is no exception. The reason why the traditional banking industry can exist for a long time is that it can effectively control the risks within a certain range. Judging from the current involvement of major e-commerce platforms in the financial industry, most e-commerce companies are taking the mode of cooperation with banks, such as HC Network and Dunhuang Network, which cooperate with banks to launch related credit card products. Because they are not lending with their own funds, the risk is relatively small.

However, Alibaba's online joint guarantee loan with the construction industry, which is also a cooperative model, has certain risks, the main risks are as follows:

8. Moral hazard of consortium members: online joint guarantee loan has many advantages in preventing moral hazard, and its main advantage is the result of active supervision and enhanced repayment among members brought about by joint liability. However, the joint and several liability mechanism is not omnipotent. For example, under the condition that a member has sufficient business ability to repay his own loan instead of the defaulter's debt, whether he can't borrow from the bank in the future has little effect on him, that is, the default cost is not enough to affect the future operation of the enterprise, and the expected effect will not be achieved. If the members of the consortium collude with each other, the bank will face the trap of fraudulent loans, especially for moral hazard afterwards. When the penalty for breach of contract is light, the possibility of collective fraudulent loans by the members of the consortium will be greater.

9. contagion risk of network loan default: the so-called "contagion of default", that is, when one member of the loan defaults, other members can choose to default instead of helping them repay the loan even if they have sufficient repayment ability, which will produce a domino effect and eventually lead to collective default.

1. overall credit risk of the consortium: if each member of the consortium fully uses the loan funds and other consortium members provide guarantees, the consortium is similar to a special group customer at this time, then the loan becomes a pure credit loan for a special group. That is to say, when the consortium encounters risks as a whole, it can only rely on its own credit for repayment, and there is no other means to mitigate risks. Compared with secured loans with collateral, credit loans have high risks.

11. systemic risk of consortium: the network joint guarantee loan is actually a credit loan to the consortium. Although the joint and several liability mechanism provides a kind of social guarantee, it still has great risks compared with the traditional mortgage and pledge method, especially when the whole consortium is subjected to external shocks, the social guarantee will become very fragile and the bank will suffer losses. Therefore, the network joint guarantee loan has certain systemic risks.

12. Information security risk of network joint guarantee loan: Although the network platform provides a fast information communication channel for joint guarantee loan, it also brings information security problems. The information stored and transmitted on the e-commerce platform may be maliciously stolen, used and tampered with, and security problems such as information loss or destruction may occur in the process of information processing. Computers may be damaged by malicious codes, hacked, and even the incorrect use of the system will endanger information security. This will not only adversely affect the business activities of borrowing enterprises, even lead to the failure of investment projects and affect the repayment ability of enterprises, but also threaten all aspects of online credit operation and may cause unpredictable losses.