Abstract: Under the background of the rapid development of third party payment, how to achieve effective supervision has become the focus of attention. Third-party payment is characterized by openness, equality, cooperation and sharing. The original supervision system is based on the internal logic of centralized control. Relying on the traditional centralized supervision mode, concept and means, it is unable to achieve effective supervision of the third-party payment, and then presents the supervision alienation.We should regard supervision as public goods, integrate the concept of public goods into the supervision system, fully respect the demands of relevant stakeholders, accurately determine the nature of the third-party payment institutions, reasonably allocate supervision power and coordination mechanism between supervision institutions, correctly balance the reasonable boundary between supervision and industrial development, fully consider the personalized demands of the third-party payment development, and optimize the supervision foundation facilities, enhance regulatory compliance, achieve market and social recognition; take the financial regulatory system reform as an opportunity to achieve the correction of third-party payment regulatory alienation through decentralization.

Key words: public goods, third party payment, regulatory alienation