jeopardyreddit| There is one less payment institution! Four institutions "left the market" during the year

21st Century Economic report reporter Ye Maisui reporting from Guangzhou

Another payment agency "leaves". The other dayJeopardyredditShanghai Shenxin Electronic payment Co., Ltd. (hereinafter referred to as "Shenxin payment"), a third-party payment institution, issued a notice to stop trading business, becoming the fourth payment institution to publicly check "departure" during the year. The reporter noted that the current payment license is valid until June 2027, that is, Shen Xin pays to "leave" ahead of time before the payment license expires. So far, the people's Bank of China has cancelled 88 payment licenses, compared with 271 at its peak, leaving only 183.

Two payment institutions "left" in May

According to the "notice on Shenxin payment stopping Trading Business" issued by Shenxin pay, due to the company's operational problems, in order to protect the interests of merchants, it was decided to stop the company's payment trading business. The transaction closed at 23:00 on May 20, 2024, and the clearing closed on the day before the settlement of the funds on May 21, 2024.

Shenxin pay was established in February 2004, with a registered capital of RMB 100 million and a paid-in capital of RMB 100 million. In 2012, it received a "payment Business license" issued by the Central Bank. The company's business covers POS receipt, QR code collection, intelligent parking and other services.

From the perspective of its payment license information, the type of Shenxin payment business is bank card order collection business, and the business coverage is limited to Shanghai. According to the public information on the renewal of the payment Business license of a non-bank payment institution (the fourth batch of June 2022), Shenxin successfully renewed the payment license at that time, and the payment license was valid until June 26, 2027.

However, Shenxin pay chose to withdraw from the camp of third-party payment in advance, so far this year, the licenses of four third-party payment companies have been cancelled, in addition to the above-mentioned Shenxin payment, there are Shanghai Newstar Technology Co., Ltd., Shenzhen UnionPay Financial Network Co., Ltd., and Yinshitong Information Technology Co., Ltd. (hereinafter referred to as "Yinshitong").

Among them, Yinshi Tong was also cancelled in May. The company first obtained a payment license issued by the people's Bank of China in June 2012, and its business covers digital TV payment services nationwide. From the perspective of industrial and commercial information, Yinshi Tong has a registered capital of 100 million yuan, and its largest shareholder is Shanghai Culture, Radio, Film and Television Group, with a shareholding ratio of 35%. However, in June 2022, the central bank announced the renewal information of the "payment business license" of non-bank payment institutions, and the examination of the renewal application was suspended because of specific circumstances. Since then, there has been no new news on the renewal progress of Yinshitong.

With regard to the cancellation of a number of payment institutions during the year, Wang Pengbo, chief analyst of Broadcom Consulting, pointed out in an interview with reporters that there are three main reasons: on the one hand, the regulations on non-bank payment institutions, which were formally implemented on May 1, the new rules make a series of provisions on the controlling shareholders and actual controllers of payment institutions, and institutions represented by UnionPay began to integrate their redundant payment licenses. On the other hand, the purpose of the new rules is to guide payment institutions to return to the origin of payment, standardize their development and guard against risks, which also makes some non-compliance institutions face an increased risk of violation and then choose to leave; the third is that some payment institutions choose to quit because of operating pressure.

Wu Yuanheng, an analyst at Northeast Securities, also believes that the government continues to strengthen the supervision of third-party payment business from top-level design, policies and regulations, leading the industry to compliance and tail clearance. The "96 fee Reform" has made an important adjustment to the charging mode and pricing level of bank card receipt business; "259" stipulates that bar code payment service institutions should take effective measures to prohibit individual static collection barcodes from being used for remote non-face-to-face collection; and the regulations on Supervision and Administration of non-Bank payment institutions promote a smooth transition between new and old payment business classification. Many policies gradually lead the industry to legal compliance. In this process, the business models of some tail and waist companies are no longer established, the industry is cleared, the head concentration is increased, the people's Bank of China has not issued a new payment license since 2016, and the regulatory authorities have renewed the payment business license. the market withdrawal has been intensified, the competition pattern has been optimized, and the business model has moved towards compliance.

In fact, the cancellation of payment license has occurred more frequently in recent years. In 2023, a total of 15 payment institutions cancelled their licenses and withdrew from the market.

At least 15 payment institutions received tickets

With the reduction of license plates, Wang Pengbo judged that the Matthew effect of the payment industry will become more obvious in the future. Two or three giants account for the vast majority of market share, and after ranking 10, there is little room for it. He believes that although the interest rate of payment continues to fall, the absolute profit of the industry is still very high, and payment is the entrance and basic tool of business digitization, and giants and order collecting institutions actually do not constitute a competitive relationship, but the relationship between the upper and lower reaches of the same industrial chain.

In addition to the case of "red card send-off", there are also many cases of accepting "yellow card" punishment. On March 8 this year, the Fujian Branch of the people's Bank of China issued a public notice of administrative penalty information. The Fujian branch of Lebao Technology Co., Ltd. (hereinafter referred to as Lebao Technology) was warned and fined by the people's Bank of China for four illegal acts.

Specifically, the Fujian Branch of the people's Bank of China has determined that the illegal acts of Fujian Le Brush include four types: first, violation of merchant management regulations; second, violation of transaction information management regulations; third, violation of outsourcing organization management regulations; fourth, violation of fund settlement management regulations. In response, the central bank decided to warn Fujian Le Brush and confiscate its illegal income of 1308.Jeopardyreddit.26 million yuan and fined 14.4612 million yuan. Fujian music brush was confiscated a total of 27.5438 million yuan. In addition, Zhang, then deputy general manager of Lebao Technology Fujian Branch, was warned by the central bank and fined 250000 yuan because he was responsible for two illegal acts of violating merchant management regulations and trading information management regulations.

In terms of the amount of forfeiture, this ticket is also the largest in the field of third-party payment during the year.

So far this year, more than 15 payment institutions have received tickets. Generally speaking, violation of account management regulations and failure to perform customer identification obligations in accordance with the provisions are the main causes of punishment.

Regarding the development of payment institutions in 2024, Huang Dazhi, a researcher at the Xingtu Financial Research Institute, believes that after more than ten years of development, non-bank payments are relatively mature, whether in terms of business models or competitive landscape. Entering 2024, there will be significant improvements in compliance construction and other aspects. At the same time, supervision in the field of non-bank payments will also remain at a normalized level.

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