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WeChat credit card charges behind the charges: the new regulations to raise the central bank Tencent cost

via:CnBeta     time:2017/12/2 16:31:54     readed:623

On November 28, a number of payment companies received an email from Shenzhen Financial Services Network Service Center, indicating that they will adjust the scope of their existing payment and collection services in the near future. Among them, non-public welfare businesses and public utility businesses Account Opening Bank (collection), payment account Bank (payment) is not in Shenzhen merchants will be December 7 from the unified shutdown.

Day eye check shows that this "Shenzhen Financial Alliance Network Service Center" is Shenzhen Financial Electronic Settlement Center Co., Ltd. (hereinafter referred to as "deep gold knot") under the jurisdiction of institutions. This mail, which is not known to the public at large, may be the real reason behind WeChat's payment of credit card payments.

The Economic Observer learned from many payers that the system of shutting down the collection and payment channel is not merely a deep-gold knot. Centralized collection and payment systems of central bank branches across the country are being shut down one after another. A vice president of a third-party payment agency told Economic Observer that the conclusion of his communication with Shenzhen Gold Knot was "one batch was closed on December 7 and one batch was closed on December 21." In addition, the other withholding channel "is basically the same today, a family off the rhythm tomorrow, before the end should be rehabilitated."

"Deep gold knot" who embarrassed

The contents of the e-mail show that the reason for shutting down the corresponding payment and collection service lies in "the impact of changes in the collection and payment business market environment." All banks stepped up their channel management. In reference to the "Notice on Strengthening the Centralization of Micropayment System Notice of Relevant Matters Concerning the Collection and Payment Business Management "((Yin Ban Ban [2017] No. 110, hereinafter referred to as" Circular 110 ").

In May this year, Circular No. 110 was issued inside the General Office of the People's Bank of China. It was clarified that the Centralized Collection and Payment Center will forbade the provision of collection and payment services to institutions other than public utilities and non-public welfare organizations. The centralized pay-as-you-go center for payment services has been disconnected and proposed the deadline of December 31, 2017.

After a lapse of six months, boots finally landed. "The channels used before Tenpay, in addition to the deep gold knot, as well as the centralized collection and disbursement channels of the branches of Tianjin, Shaanxi and Shanxi Central Banks, immediately stopped the cost of the channels." A bank clearing house operator Told the Economic Observer, withholding the temporary changes in rivers and lakes, the test is the ability of financial institutions to pay institutions, and the reason why WeChat also credit card charges, Alipay has not yet started to receive, the difference lies in this, "TenPay is done before Game point card started, with the scale of the development of WeChat payment only gradually grow up, from the financial channel ability to really lose Alipay, Alipay has more than 300 financial BD (to push personnel), one person to get 2 banks, straight The network has basically covered the whole country, but in the long run, it can not last for a long time. Therefore, it is hard to say what will happen in the future.

In the long run, CUP and Netflix may become the only two options for payment agencies.

A person close to UnionPay confirmed to Economic Observer that "TenPay is trading volume at UnionPay, so far Alipay does not."

As far as the whole country is concerned, the number of gray-scale industries previously covered by the centralized collection and payment centers is a hard figure to quantify. However, a source close to regulation revealed that the size of the interface of the Shenzhen Sub-branch of the People's Bank of China is relatively large across the country.

When referring to the Shenzhen Branch of the People's Bank of China, I have to mention a company called Shenzhen Financial Electronic Settlement Center Co., Ltd. Public information shows that Shenzhen Financial Electronic Settlement Center was established in December 1995, approved by the People's Bank of China headquarters, initiated by 13 banks jointly set up a professional inter-bank payment and settlement agencies in 2014 by the public institutions for the restructuring, changed its name to Shenzhen Finance Electronic Settlement Center Ltd. "This business exists because of some historical issues that have been set in order to solve the settlement issue in the same city," said a local Shenzhen-based payment agency vice president, who told Economic Observer.

Economic Observer reported publicly available information was informed that Qu Xianbin, chairman of the company previously served as the People's Bank of Shenzhen branch of the Central Branch Payment and Settlement Director. Through the eyes of the day, Economic Observer also found that the company through its wholly-owned subsidiary of Shenzhen Financial Electronic Settlement Technology Co., Ltd. Shenzhen Fu Fu Tong Financial Network Technology Co., Ltd. (hereinafter referred to as "fast pay-through") 20% stake Fast PayPal is a licensed third-party payment agency.

Evaluation of the above, after the centralized collection and payment centers to return to the same city settlement function and some non-charged charity deductions, all centralized collection and payment center may face a sudden drop in revenue, basically zero. He said: "The deep gold knot may bring some income because of the fast pay equity, but the overall future revenue drop has become a fixed trend, the prospects for what is still confused."

Withholding "foreign law" is about to disappear

In the view of a person close to the central bank, Circular 110 and Circular 217 are the three-dimensional process of the central bank's normative measures for paying market chaos.

Centralized collection in the end is what kind of business? As the name implies, the business is divided into two, on behalf of the consumer withholding and collection of merchants. In fact, for the business, there is a more straightforward and concise term for the business, which is called "withholding" - authorizing the merchant to initiate and complete the designated account with the cardholder based on the business commission agreement signed by the cardholder and the merchant Specified money deduction business, do not need to re-confirm the cardholder and enter the password, and even in each charge, no need to remind the cardholder again.

In particular, it is worth reminding that, withholding service itself does not necessarily adhere to the bank card, it can also be a bank virtual account, withholding service is divided into the public deduction, the two types of deduction withheld. Compared with the CUP only private deduction function, centralized payment collection center withholding interface function seems to be more powerful. In the case of an agreement, the merchant needs only the card number (required), name, ID number, phone number (optional), etc., and does not include the password and other verification elements.

A vice president of a third-party payment agency told Economic Observer that there were three ways to play the cash-generating business:

First, the payment agencies can talk about banks from one family to another, but this approach has a fatal flaw. According to the "Notice of the General Office of the State Council on Issuing the Implementation Plan for Special Remediation of Internet Financial Risks" in 2016, non-bank payment agencies are not allowed to connect with a number of banks System, disguised conduct inter-bank liquidation business. However, for some smaller payment agencies, single-point connection with a bank to do withholding business, inefficient, difficult climate. And the sustainability of this model has been very limited, the trend of view, the future will be unified network compiled ".

Second, payment agencies can also reach each bank through the UnionPay to achieve withholding, this is very efficient, but the cost is also high. "UnionPay is currently taking the ladder rate, ranging from 0.7 yuan to 1.7 yuan single, UnionPay themselves to stay 0.2 yuan, and the rest to the issuing bank; and for large bank financial management, according to the size of the amount charged 2 / pen to 8 yuan / pen rate, real-time withholding is higher, to take the equivalent POS POS rates.

Third, through the centralized collection and payment center to achieve withholding, equally efficient, you can get through all the domestic banks. "However, this channel is a scarce resource, not every payment agency can get it. The payment agencies that get the interface can continue to excuse the interface and put more than one premium on it." "In contrast, The center of the deduction interface is the best channel, easy to use than UnionPay channel too much. First of all, cheaper. Withholding not rate, according to the number of pens, a few pieces of hair to a few pieces, for large Second, it is convenient.POS collection can only do private bank card, and the need for password, authentication and other means, withholding is different, as long as the cardholder account can do the buckle business, do not need a password , Verification and other means, and the public-to-private unrestricted, easy to operate.In addition, do not worry about UnionPay's inspection, withholding is centralized on behalf of the collection and payment center withholding interface, belongs to the clearing center of the People's Bank of China Business, which is directly under the People's Bank of China, the implementation of enterprise management unit of legal entities .Non-out before the central bank to purge, no institutions to regulate the market. "A third-party payment agency vice president told the economy Reported.

However, to a certain extent, the withholding interface of the centralized collection and payment center can easily be exploited by some "second-tier" institutions, "big merchants" and even lawless elements to become "extraterritorial places." From the final results, it is also the absence of wind control led to the end of this gray industrial chain finally.

As early as May this year, some people close to supervision revealed to the Economic Observer that the reason why the central bank moved to settle the collection and payment business stems from a risk event previously held by the Shanxi city clearing system. A CTO of a third-party payment company told Economic Observer that in theory, there is almost no technical difficulty in realizing the wrongdoing as long as the seizure channel is mastered. "In the gray chain of information reselling, cardholder information is not a secret at all, while the cardholder's bank card number, ID number and other basic information once leaked through the buckle can be easily deducted without a password End card funds and transfer. "

With the arrival of article 110, this piece of "jianghujian" may also eventually disappear.

It is noteworthy that, in addition to Circular 110 issued in May, the central bank further promulgated the Circular on Further Strengthening the Remediation of Unauthorized Card Payment Operations (Yin Ban Fa [2017] No. 217), which is hereinafter referred to as " 217 "), in addition to cut off the undocumented payment business channels, will also conduct a comprehensive inspection and severely punish the certification body for the undocumented institutions to provide payment and settlement services violations. It is worth mentioning that the People's Bank of China also issued a self-examination body simultaneously with the certification body, including the development of business on behalf of the collection and payment, as well as non-bank payment agencies, banks, CUP, rural credit bank funds clearing center, Center are also self-examination sequence. "Before this, a number of payment agencies have already released the channels of withholding, expediting and internet banking to the banks, and the banks will focus their liquidation on the downstream payment agencies and even the" second-tier "institutions and the" big business operators, "including Ping An, CITIC Group, Prudential and other banks, including a number of banks are therefore subject to liquidation center accordingly. "A central bank branches said that the introduction of the text of No. 217 can be seen that the regulatory logic is also changing.

The person evaluation said that in the past who punished the channel who punished, who is now doing a clear channel to punish those who are now self-examination phase, the payment agencies, focus on behalf of the collection center, banks, we should not put Of the channel of the stop, the off, after December 31, is the central bank branches around the inspection, and then if there are major risk incidents, the relevant persons in place dismissed. "In this way, basically, the root of the chaos is taken from the source."


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