The Central Bank Is Making Further Efforts To Rectify The Third Party Payment.

"For Central Bank We must accept the punishment. On the one hand, we will ensure the interests of all the merchants who withdraw from the business. On the other hand, we will do well the service of the stock merchants in other areas. After rectification, we will continue to provide services for the receiving industry. " A fined third party payment agency staff said.

Insiders pointed out that the above penalties are conducive to straighten out the chaos and promote the healthy development of the whole acquiring market; however, the impact on the whole third party payment industry is not very big, because many third party payment companies are scrambling for change, transforming comprehensive financial services, and mining. Financial management The market, etc., is only a small part of the overall business.

　　 4 institutions fined

"In the afternoon of September 10th, the central bank held a meeting to convey the following requests (punishment opinions) to four institutions that were stopped early in April of this year because of the pre authorization violations." The above sources revealed.

Reporters learned that, according to the final punishment result, the remittance world will withdraw from the existing collection business in 15 provinces and cities in a year, and Fu you and Yi Bao will withdraw from the 7 provinces' receiving business, and will be withdrawn from the 2 provinces of 5 provinces. Areas outside the list of provinces and municipalities continue to cease development. Merchant All stock merchants and receiving terminals will be fully cleaned up according to the regulations.

"We must accept the punishment opinions of the central bank. On the one hand, we must guarantee the interests of all the merchants who withdraw from the business. In the process of withdrawal, we propose that the transaction between the service providers and the merchants should be kept and the settlement will be kept and so on, so as to ensure the interests of the merchants and service providers in the orderly exit process. On the other hand, because there are still some stock merchants in most areas, we must do well the service of the stock merchants, and after rectification, we will try to continue to provide services for the receiving industry." The agency pointed out.

Qian Haili, assistant analyst of the Internet Finance Department of the China Electronic Commerce Research Center, told the daily economic news reporter that the "721" structure is divided into 7 parts: the issuing bank is 7, the acquirer is 2, and the UnionPay is 1. The result is that the new third party payment agencies have difficulties in obtaining high cost and low profits from the merchants online. In order to get more profits, many third party payment agencies bypass the UnionPay and use the code to get the merchants, which leads to frequent chaos in the industry. Although the punishment is the third party payment institutions, UnionPay, commercial banks and other institutions also need to reflect.

In fact, in the face of the chaotic third party payment market, as early as March this year, the central bank requested that 8 institutions, including the remittance world, Yi Bao payment, entourage, Fu Fu, Ka Fu, Ka you, Hai Ke Tong, Sheng Futong, Jie Fu Rui Tong, have temporarily stopped access to new businesses nationwide since April 1st. In addition, the UnionPay business of China UnionPay and Guangdong Jialian two have been asked to investigate themselves. However, the central bank's move failed to achieve the expected warning effect. According to the report issued by the China UnionPay business management committee in the first half of 2014, the report of the bulletin on the bank card acceptance market (hereinafter referred to as "bulletin") shows that in the first half of this year, 460 thousand illegal businesses were identified nationwide, accounting for 5.84% of the total number of merchants, and 197 thousand restricted businesses nationwide, with a total constraint of 356 million yuan.

In response to this circular, the people's Bank of China proposed that the people's Bank should further strengthen the supervision of the acquiring business on the basis of the previous measures, initiate special inspections of the "non-compliance" agencies, and suspend the new businesses in a timely manner by investigating serious violations. For the 8 Payment institutions that were previously punished, it is suggested that the acceptance criteria for "stop the new" institutions be formulated, and that the new businesses should be suspended and the market should be forced out of the market without approval, so as to consolidate the early regulatory results and curb the market irregularities in the market acceptance of bank cards.

　　 Forced business transformation?

So what is the impact of the penalty on the third party payment company?

"The storm of the acquirer took place in the chaotic era of China's bank card collection industry. I firmly believe that rectification is the starting point for standardizing the acquirer industry. The rules of the acquirer market will mature and the regulatory environment will mature, and the acquirer market will usher in a better tomorrow. Remittance people in the world pointed out.

He further pointed out that stopping part of the collection business has limited impact on the remittance world. This year, the remittance world has completed the strategic transformation. Now it has remittance data, remittances to finance and remittance technology three business segments, the stop area business has no more than 10% contribution to the company's financial contribution. More importantly, these effects only occurred in the third and fourth quarters of this year. The burden is expected to be completely dropped in the first quarter of next year.

Another industry insider also pointed out that the traditional acquirer business has been in an awkward position. On the one hand, the supervision of the third party payment is tightening, and the traditional receiving business has been severely rectified. On the other hand, the traditional profit collection mode is relatively simple, the main income comes from the handling fee, and the "721" proportion that the acquirer industry follows is destined to make a small profit. In view of this, the future third party payment will no longer bear the original single payment function, but can superimpose all kinds of application scenarios such as financial management, financial services, marketing management and so on. The business transformation of the third party payment institutions which rely on the acquiring business is imperative.

It is worth noting that the impact of this ticket is far from the April. Some third party payment institutions are inevitably subjected to a negative impact. Will this lead to the frenzy of "cutting machines" by these institutions?

In this regard, Qian Haili told reporters that since the central bank has made efforts to rectify the acquirer market, it is bound to supervise the follow-up actions that may occur and take advantage of "cutting machines" to rob merchant resources. Punishment is also an opportunity for the central bank to regulate the payment institutions under the pressure of traditional finance and Internet finance.