Commodifying Data: Analyzing Legal Regulations on Foreign Digital Payment Systems A Comparative Analysis Between the United States and the People’s Republic of China

Abstract

This paper provides a comprehensive study on the intersection of digital payment platforms, particularly those originating from the People's Republic of China (PRC), such as Alipay and WeChat Pay, with the legal frameworks for data privacy in the United States. The research investigates whether the data collection policies of these Chinese digital payment systems comply with or violate existing U.S. laws designed to protect personal data. Given the rapid global expansion of these platforms and their necessity for facilitating modern economic activities, the paper emphasizes the significant trade-off users face by surrendering personal data to access digital payment services. This surrender of data, equated to a "pay-to-play" system, raises critical questions about the adequacy of current legal protections for users' data privacy in the U.S. This inquiry is crucial in understanding the broader implications of the global rise of digital payment platforms on privacy and consumer protection laws, particularly as these platforms become increasingly integrated into the international market. The paper aims to contribute to the ongoing discourse on digital privacy and the need for modernized legal frameworks to address the challenges posed by the digital economy's global nature.