Online Usage of Electronic Payment Investigation and Problem Analysis

Abstract

The appearance and growth of cyberspace have brought profound changes in financial activity space and payment. The electronic data exists as electronic money become very popular. A large number of physical currency transforming into electronic money flow on a high-speed on the network. Internet-based electronic money freely flows in the global in digital form, broking the limit of national boundaries, and its ability to cross-border flows beyond the gold and silver currency and banknotes and other forms of physical movement, but also a substantial increase in flow velocity. In China, nowadays, the largest online payment platform is Alipay[1], in the United States, the largest online payment platform is Paypal. Electronic money has become the main form of online payment and mobile payment and other areas, the whole field of online payment is explosive growing[2]. National security includes political security and economic security. Information cyberspace electronic payment system security is directly related to a country's economic lifeline and political stability, and should become an important strategic consideration. Electronic payment increases the vulnerability of the financial system, reducing the financial system's ability to resist risks. Network has no borders, the network power can attack the enemy’s electronic payment information systems via a network connection no matter where it is. Criminal groups, hackers, terrorists can also initiate electronic payment systems on the network attacks. One node on the network is destroyed, could trigger a domino effect, resulting in the paralysis of the financial system, causing huge economic turmoil, triggering the collapse of national confidence, and even threatening the country's political stability. This paper aims at studying and analyzing China's existing e-payment usage by setting up an online survey according to its development trends