UnionPay has established a direct "banking" bank! POS rate or increase!

UnionPay’s concerns and restrictions on the volume of transactions diverted by third-party payment institutions have never stopped. Today, this website has learned from UnionPay that China UnionPay recently issued the “Measures for the Evaluation of Non-bank Payment Organizations of UnionPay Network” (hereinafter referred to as “Measures”) to non-bank payment institutions, and directly sent the information of UnionPay card transactions. The payment institution that issues the behavior of the issuing bank shall impose penalties for the withdrawal of part of the business.

The relevant person in charge of UnionPay said to the website: “UnionPay is a card organization. The method of this announcement is mainly for non-bank payment member institutions, which is essentially compliant with regulatory requirements.”

Indeed, the central bank issued the “Measures for the Management of Classified Ratings of Non-Bank Payment Institutions” in April 2016. The payment institutions are divided into five categories and 11 levels. The central bank will differentiate and target the payment institutions according to the classification rating. The management methods issued by UnionPay complement each other.

Rate the non-bank payment institution

It is understood that the evaluation of the payment institution's business is carried out by the relevant reviewers such as the UnionPay General Branch, member institutions, and external experts, through the indexing model, deliberation and other scoring rules. According to the regulations, adjustments are made annually according to regulatory policies and changes in business and markets.

This website found in the "Measures" that UnionPay conducted detailed evaluation management indicators and score results for non-bank payment institutions. Among them, the evaluation indicators include but are not limited to supervision and management, network operation and market cooperation, cross-border business, risk prevention and control, and business specifications.

At present, the evaluation score is based on the percentage system. According to the evaluation score of the payment institution, UnionPay divides the payment institution into five categories: I, II, III, IV and V. “The payment institution fails to comply with the agreement and rules of the relevant UnionPay and sends the UnionPay card transaction information directly to the issuing bank” and directly assesses it as Class IV. The “revocation of the business license by the regulatory body” is directly assessed as category V.

In this regard, UnionPay specifically pointed out in the "Measures" for the category IV institutions, restrict the opening and adjustment of some of the business; implement part of the business exit; improve the risk prevention and control requirements and strictly enforce. For category V institutions, all services are terminated, and it is required to withdraw from the UnionPay network within a time limit; it is recommended to the regulator to cancel the payment of the business license.

The detailed indicators such as penalties by non-banking institutions, negative media exposure, and condemnation by the UnionPay are listed by UnionPay. It can be seen that UnionPay is a bold and orderly rectification and evaluation of non-bank payment institutions.

Reiterate the ban on payment institutions directly connected to banks

It is worth mentioning that, in accordance with the "Measures", the UnionPay card transaction information is directly sent to the issuing bank, which is directly assessed as Class IV, which will restrict the opening and adjustment of some businesses, and even withdraw some of the business.

Analysys Financial Analyst Wang Pengbo analyzed this website. The phenomenon that the payment institution directly connected to the bank is more common in the industry. In fact, it is the default gray area of ​​the industry, but most of them are still in contact with UnionPay.

UnionPay has been emphasizing that member institutions must jointly maintain the "quartet model." The so-called Quartet mode means that after the consumer spends the credit card consumption, the card issuing bank, the acquiring bank, the merchant, and the card organization participate in the four parties. In the original acquiring market, the issuing bank, the acquiring institution, and UnionPay will divide the handling fee by 7:2:1. In recent years, with the development of third-party payment institutions, third-party payment institutions have circumvented the direct connection between UnionPay and the bank. The 10% handling fee that UnionPay deserves is distributed by third-party payment and issuers.

In March 2014, Union’s president Shi Wenchao said frankly: “The People’s Bank of China has approved 250 third-party payment institutions. The top 20 payment institutions account for more than 90% of the market share. These 20 organizations have tried every possible way to bypass UnionPay. For transfer clearing, UnionPay's trading volume is very obvious."

UnionPay has not stopped the concerns and restrictions on the volume of cross-linked UnionPay transactions by third-party payment institutions, and even imposed fines on the payment acceptance market earlier.

It is most important for the restriction payment institution to send the UnionPay card transaction information directly to the issuing bank, which is the most important thing for UnionPay. UnionPay has been insisting on the "quartet model" and has repeatedly issued a document prohibiting member institutions from directly connecting to banks. This is the basis of the survival of UnionPay. Once it bypasses the "three-way model" of UnionPay, UnionPay loses its existence value.

Networking platform squeezes into the clearing industry competition

In April of this year, the network platform launched trial operation, and the first batch of access to some banks and payment institutions. The market interprets the online networking platform that stirs up the payment market, and the third-party payment institution has come to an end in the era of banking, aiming to further standardize the compliance of online payment services.

Undoubtedly, the biggest impact of the network platform will be UnionPay. Mobile payment network analyst Mu Chu analyzed the blue whale banking channel. "Now the network connection platform comes out, the payment institution and the bank directly start to slowly stop. The UnionPay also caters to the policy orientation and strengthens the function as a liquidation organization."

Previously, insiders of UnionPay had said that if the network platform can further regulate the development of Internet payment, it also has positive significance for UnionPay.

The online platform will be built to establish a common transfer clearing platform for non-bank third-party payment institutions such as Alipay and Tenpay, which will be supervised by the central bank. The bank, the network platform, China UnionPay, and third-party payment will restart a new round of games.

Yin Zhentao, deputy director of the Institute of Finance and Finance of the Chinese Academy of Social Sciences, said that although the online platform has an official background, it is still a company-like nature. Progress in changing the direct connection model of third-party payment and banking will not be rapid. It is expected that 2 -3 years.

Stainless Steel Milk Pot

Instant Noodle Pot,Stainless Steel Milk Pot,Stainless Steel Milk Pan,Stainless Steel Milk Saucepan

SUZHOU JIAYI KITCHENWARE TECHNOLOGY CO.,LTD , https://www.jiayikitchenware.com