Title: Research on financial coordinated supervision platform and supervision strategy for online payment under paperless trade

Authors: Ping Song; Dan Huang; Qifeng Yang; Yan Zhang

Addresses: School of Economics, Wuhan University of Technology, No. 122, Luoshi Road, Hongshan District, Wuhan City, China ' School of Economics, Wuhan University of Technology, No. 122, Luoshi Road, Hongshan District, Wuhan City, China ' School of Economics, Wuhan University of Technology, No. 122, Luoshi Road, Hongshan District, Wuhan City, China ' Audit Department, Heilan Home Garment Co., Ltd., Heilan Group Co., Ltd., No. 88, Taoxin Road, Jiangyin, Wuxi City, China

Abstract: Money laundering and credit fraud are the biggest bottleneck for the development of paperless trade, financial coordinated supervision for online payment is significant for the development of paperless trade. The key to financial coordinated supervision is to make the information of 'business flow, governmental affairs flow, capital flow and logistics' be effectively integrated, and to make these information reliable clues to effectively identify suspicious financial transactions. Based on analysing the problems of existing payment models in China, we propose an industrial value chain model of financial coordinated supervision for online payment under paperless trade. Based on the model, we design a financial coordinated supervision platform for online payment under paperless trade. The framework design of the platform includes design objective and function module, and the detailed design of the platform consists of business process, data standardisation, and interface standardisation. We analyse the financial coordinated supervision strategy for online payment under paperless trade.

Keywords: paperless trade; online payment; financial coordinated supervision; supervision strategy; information integration; suspicious transactions; financial transactions; money laundering; credit fraud; China; modelling; business process; data standardisation; interface standardisation.

DOI: 10.1504/IJSTM.2013.055635

International Journal of Services Technology and Management, 2013 Vol.19 No.4/5/6, pp.219 - 239

Available online: 30 Jul 2013 *

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