On March 22nd, 2018, the People's Bank of China Hangzhou Central Branch made an administrative penalty decision on Alipay. Alipay (China) Network Technology Co., Ltd. was fined a total of RMB 180,000 for seven violations.
Alipay's illegal behavior includes three aspects: customer rights, product promotion, and personal information protection.
1, customer rights:
(1) Insufficient protection of financial consumers' right to know;
(2) Insufficient protection of consumers' autonomy.
2, product promotion:
(1) Carry out misleading publicity in video promotion;
(2) Carrying out misleading publicity in Alipay's official microblog;
(3) The proportion of the complaints that have been processed is not calculated accurately, resulting in the fact that the published data does not conform to reality.
3, personal information protection:
(1) Personal financial information collection does not meet the minimum and necessary principles;
(2) Improper use of personal financial information.
According to the “Administrative Measures on Payment Services for Non-financial Institutions”, a fine of RMB 30,000 was imposed. According to the "People's Republic of China Consumer Rights Protection Act," two violations of product promotion and personal information protection were separately given a warning and a fine of 100,000 yuan and 50,000 yuan was imposed. The above fines total RMB 180,000.