The central bank has tightened the bank card acquiring market, which has become more stringent. On July 25, the central bank announced that according to the social report, from March to May 2016, Tonglian Payment Network Service Co., Ltd. (hereinafter referred to as “Tonglian Paymentâ€) and UnionPay Business Co., Ltd. (hereinafter referred to as “UnionPay Businessâ€) The bank card collection business inspection was carried out, and the illegal illegal acts were confiscation of illegal income of 3 million yuan and 6.1 million yuan respectively, and a fine of 11 million yuan and 26.5 million yuan were imposed respectively, and related to their head office and branch respectively. The responsible person gives a warning and is fined. Tonglian Payment was established in 2008 and is controlled by China Wanxiang Holdings Co., Ltd. Founded in 2002, UnionPay Business is controlled by China UnionPay and is the first payment institution to receive the Central Bank's Payment Business License. Regarding this punishment, relevant persons of UnionPay said that the central bank’s heavy punching and rectification of the order of bank card receipts is of great significance for purifying the acceptance of the market order. China UnionPay, as a bank card organization, firmly supports and supports. "I have never seen such a large punishment before. The two institutions are almost the largest in the payment institution. The central bank has also sent a strong signal to the market." Some people in the payment industry told us that they have paid in recent months. During the renewal of the institution, payment institutions generally responded with caution and were most afraid of being delisted by the central bank. "Now a payment license may be worth hundreds of millions. The tens of millions of fines are currently very heavy penalties, but they are nothing compared to licenses," commented a person from a payment agency in Jiangsu and Zhejiang provinces. According to the announcement of the central bank, after verification, Tonglian Payment and UnionPay Business have not implemented the real-name system of merchants, changed bank card transaction information, provided trading interfaces for unlicensed institutions, deposited and transferred customer allowances through non-customer reserve accounts, and outsourced Serious violations of service management and other irregularities, the report is basically true. According to the analysis of the payment industry, there are two kinds of risks for the “unrealized merchant real name systemâ€. First, the merchants themselves have problems, such as cashing out customers through POS, and may even be bank card piracy and pirate gangs; merchants do not provide real space for these illegal crimes. Second, under the current payment policy, different types of merchants correspond to different merchant category codes (MMC codes), corresponding to different POS machine card processing rates. For example, the handling fee for restaurants, hotels, entertainment, jewelry, arts and crafts is 1.25%, and department stores, agencies, training, and scenic spots are 0.78%. Therefore, merchants with higher handling fees have MMC codes with lower commission rates and lower operating costs. In order to expand business volume, acquiring institutions also have the incentive to help merchants “fakeâ€. A person from a payment company in Shanghai told reporters that if it is not during the renewal of the current payment institution, it is likely that such a big problem will not be detected. The reason is that from September 6 this year, the notice on improving the pricing mechanism for bank card credit card fees will be implemented (Development and Reform Price (2016) No. 557, hereinafter referred to as “Payment New Regulationsâ€), in which the adjustment of the rate standard Will greatly reduce the incentives for merchants and payment institutions to cooperate with sets (not real names). According to the new payment rules, the card issuer's service fee collected by the card issuer will be subject to government pricing by different current merchant categories, and the same rate will be applied to debit cards and credit cards (usually credit cards). The government guides the price cap management, the rate level is reduced to 0.35% of the transaction amount of the debit card transaction, and the credit card transaction does not exceed 0.45%. In addition to the real-name system of merchants, the central bank's above-mentioned “reservation through non-customer reserve fund account and transfer of customer reserve funds†was interpreted by the industry as a response to the problem of P2P running. An acquirer's risk control person told reporters that some P2P organizations had some redemption problems, and some of them were “volunteersâ€, which involved the security of customer reserve accounts. “The central bank’s strict investigation of the transfer of reserve fund accounts is definitely beneficial to the entire Internet finance industry.†Our new 6' Folding Plastic Bench, which is great for camping, hiking, party or dining indoors or outdoors. It features a high-density polyethylene top with tubular powder painting steel legs and a frame. It can be folded and extended easily to provide enough space to your guests and save room for storing it under a bed or in a closet. Rubbers on the legs can prevent your floor from scratches or any damage. Plastic Folding Benches,Foldable Plastic Bench,Folding Plastic Picnic Bench,Plastic Picnic Bench jiangsu concentric internatinal ltd , https://www.jsconcentriccorps.com
April 14, 2023