Policy authorities have been making great efforts to create various systems for a long time to eliminate overdue labor costs, materials, and equipment payments incurred in the process of operating the construction industry. As a result of these efforts, a system that uses Korea's advanced information and communication technology and infrastructure to check in real time whether labor and material payment equipment have been properly paid has become a new standard. However, this system has an unconstitutional element in that it violates the freedom of disposal of payments, which is the property of the contractors and subcontractors, and the state and local governments directly intervene in the payment and enforces the use of the system. In the case of using this system, there is also a problem in that cost information such as the counter-party and the unit price of the transaction is inevitably exposed. There is also doubt that the system that has already been abolished is condoning. In addition, there is a high risk that construction companies will easily go bankrupt in the event of an economic shock by eliminating the liquidity of the contractors and subcontractors, and various systems are used respectively, causing excessive costs to the contractors and subcontractors. This study proposes a method to solve the above problems as follows. In order to resolve arrears, the Labor Standard Act, the Wage Claim Guarantee Act, the Debtor Rehabilitation and Bankruptcy Act, the Fair Transactions in Subcontracting Act, and the Framework Act on the Construction Industry have already been established and implemented. Despite the establishment of such a legal and institutional basis, it is excessive regulation directly to workers and material and equipment companies and to confirm the payment details. The system needs to be redesigned so that it can be selected by participants in the construction industry using this electronic payment system. The best way to prevent arrears is to allow financial companies to develop and launch payment bonds suitable for this purpose and consumers to choose what is advantageous for them among each payment bonds rather than directly intervening in payment. Through development and user choice, arrears can be resolved and new financial services that did not exist before can be created. Financial techniques to detect signs of insolvency of contractors and subcontractors and special services to select insolvent companies can also begin. Additional social benefits can also be expected in which insolvent companies that cannot receive payment bonds for labor costs from financial companies are naturally expelled. In addition, the electronic payment system needs to be integrated into a single standard to enhance user convenience and reduce costs.