The first batch of third-party payment will be renewed and the license will be worth more than one billion.

Three months late, the results of the first batch of 27 third-party payment license renewals finally landed. Many third-party payment agencies revealed that they arranged relevant personnel to constantly refresh on the central bank's website every day in order to see the results in the first time.

A few days ago, in May this year, the first batch of licensees were renewed. The central bank introduced a series of measures to strengthen supervision. The situation of strict supervision is obvious. The tightening of licenses and the recovery of some licenses have become the predictions of many insiders. The end result was to let the market breathe a sigh of relief. The first batch of institutions did not have a license to be repossessed, and some of them actively reduced their business scope.

Nine organizations have reduced their business scope, and there will be no new payment institutions in the future.

In this renewal, the central bank imposed restrictions on some of the services of the nine payment institutions. In the “Measures for the Administration of Payment Services for Non-Financial Institutions” promulgated in 2010 (hereinafter referred to as “the “Measures”), a payment license may include online payment, issuance and acceptance of prepaid cards, bank card receipts and other determinations by the central bank. Payment services, different services also have a corresponding geographical scope.

Among them, Tenpay, fast money payment, Yinsheng payment, Xunfu technology, and PayPal actively reduced the scope of business. Tenpay, Yinsheng Payment and PayPal terminated the fixed-line payment service, and the fast-paid payment terminated the fixed-line payment service and the prepaid card (national) business. Xunfu Technology terminated the bank card receipt in Jiangsu, Zhejiang and other provinces and cities. business.

Some insiders revealed to reporters that the central bank has conducted research and communication guidance on licensees before the renewal of the license. Organizations with weak business risks and risk control capabilities will actively choose to reduce some of the more risky businesses after receiving guidance; The telephone payment service will be voluntarily given up due to fewer and fewer applications.

Epro Pay, Remittance World, Online Banking Online and Ping An Pay are all passively reducing the scope of business. According to the renewal decision, Epro Payments was stopped in 7 provinces and cities such as Henan and Jiangxi to carry out bank card acquiring business; Remittance World was stopped in 15 provinces and cities to carry out bank card acquiring business; Netbank Online was terminated Telephone payment service; Ping An pays the termination of prepaid card issuance and acceptance business.

The bank card acquiring business is a type of business that is considered to have a greater risk. In the first half of this year, there were media reports that Tonglian Payment and CITIC Bank as the acquiring institution and the cooperation unit were suspected of illegal business operations, resulting in nearly 6 million payments to more than 40 merchants nationwide. In July this year, the central bank announced that Tonglian Payment and UnionPay Business had failed to implement the real-name system of merchants and changed the transaction information of bank cards, providing excuses for unlicensed institutions, depositing and transferring customers through non-customer reserve accounts. In case of violations such as payment of funds, a total of 46.8 million yuan was fined.

Public information shows that Epro's payment and remittance have repeatedly touched the central bank's regulatory bottom line for payment. In September 2014, the central bank issued a document to issue reimbursement opinions to third-party payment companies such as Remittance World and Epro Payment, requesting self-examination to clear and withdraw from existing collection services in some provinces and cities; The reason is that credit card holders and merchants make credit card cash out through third party payments. In September 2015, some media reported that a number of merchants in a certain area used POS machines to swipe their cards and then the funds were frozen. The agents that provided pos machine services can trace back to Epro. Remittance World received a fine of 350,000 yuan from the central bank Shanghai Branch in May this year because of violations of anti-money laundering regulations.

In addition to some agencies to reduce the scope of business, another noteworthy information is that the central bank said that in the next period of time, in principle, no new institutions will be approved, and the focus will be on risk mitigation.

Delayed for nearly a hundred days or due to multiple trade-offs

The above-mentioned insiders told reporters that from the decision of this renewal, the central bank has "put aside" for many organizations, only to limit the types of business and areas where risk events occur, very targeted, no Directly recover the license and kill it with a stick.

When the relevant person in charge of the central bank answered the reporter's question about the renewal of the "Payment Business License", he said that the renewal work is different from the administrative punishment. The organization can decide whether to renew or not, and renew part or all of the business; the standard development of the payment service market It takes time; the central bank’s supervision and management of non-bank payment institutions also has no mature experience to follow, and relevant systems and regulatory measures are gradually being established and improved.

In addition, the relevant person in charge of the central bank also said that some payment institutions that were punished by the central bank in the early stage involved more merchants and consumers, and had a large transaction volume, which had important institutional characteristics. If you do not renew and terminate all of its payment business, it will have a big impact on the payment service market. Many merchants and consumers are affected, which is not in line with the purpose of effectively protecting the legitimate rights and interests of financial consumers, and is not conducive to the healthy and stable development of the industry.

The above-mentioned industry insiders analyzed the reporters. From the time of this renewal, it can be seen that the regulatory authorities have made a lot of trade-offs. The first is to let the industry institutions according to the "Non-bank payment institution classification rating management method" (issued on April 19, 2016) scores, customer margin management, compliance and risk prevention, customer rights protection, system security, Self-testing standards such as anti-money laundering measures and sustainable development capabilities; if there are practical problems, we will strive to reduce the scope of our business under the guidance to minimize the impact on the market.

Business reduction is not a problem, the difficulty lies in the merger

Someone who had previously left the central branch of the central bank told the China Economic Weekly that in such a renewal decision, it is probably the most difficult to merge. The relevant person in charge of the central bank pointed out that the renewal of the business scope of some payment institutions was increased. In one case, the payment business was accepted due to the integration of the “payment business license”, and the scope of the payment business of the merged institution increased accordingly. There is a business type, and the "Payment Business License" of the merged institution is cancelled accordingly. However, in the renewal decision of the first batch of third-party payment institutions, the merger did not result in a reduction in licenses, and only an increase in the scope of some licenses was realized.

The reporter found from the public information inquiry that in the current licensee situation, Yisheng Payment Co., Ltd. merged with Shanghai Huashi Information Technology Co., Ltd. (hereinafter referred to as “Shanghai Huashi”). On the official website of HNA, the reporter saw that Yisheng Payment and Yishengjinfu are subsidiaries of HNA Group. In the enterprise information credit publicity system, it can be seen that Yishengjinfu is the legal person shareholder of Shanghai Huashi.

The relevant payment licenses for HNA are not limited to these two. The reporter learned from the public information inquiry that the legal person shareholder of another third-party payment institution, Guofubao, is Baole Le Commercial (Hunan) Co., Ltd., and the only publicity of Baole The shareholder is HNA Hotels (Group) Co., Ltd. As the relevant shareholding ratio was not disclosed, whether HNA was not confirmed by the actual controller of the license.

The above-mentioned insiders revealed to reporters that the value of a third-party payment license on the market is currently between 350 million and 100 million, and more recently, a third-party payment license that only contains online payment services and has a certain equity. Looking for the purchaser at a price of 350 million. “Even if the related business is not profitable, it is better to sell than to be merged,” the source said.

However, under the current regulatory policy, trading licenses have been subject to more stringent supervision. The relevant person in charge of the central bank made it clear that it must resolutely stop the act of reselling the license for payment of business licenses; and in the Measures, if the actual controller of the license is to be changed, the central bank must also approve it. This series of means shows that it is not an easy task to get the relevant licenses as soon as possible.

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