WeChat Pay: During the transition period, personal collection codes and merchant collection codes can be used normally

Sanyan Finance News on January 5, today's "WeChat Pay Smart Life" public account released the "Tencent WeChat Pay On the Current Use of Collection Barcodes".

WeChat said that on October 13, 2021, the People's Bank of China issued the Notice of the people's bank of Chinese on strengthening the management of payment acceptance terminals and related businesses (Yinfa [2021] No. 259), which put forward new requirements for the management of collection bar codes and set a transition period.

The Notice clearly states that "a classification management system for collection barcodes is formulated, effectively distinguishing the scenes and uses of collection barcodes by individuals and special merchants, and preventing collection barcodes from being leased, lent, sold or used for illegal activities." For individuals with obvious characteristics of business activities, the bar code payment and collection service institution shall provide them with the special merchant collection bar code, and refer to the implementation of the relevant management regulations of the special merchant."

WeChat Pay actively and deeply studied the requirements of the new regulations, and after comprehensively and fully assessing the payment needs of customers, it is hereby explained on the use of collection barcodes during the transition period: At present, WeChat Pay personal collection codes and merchant collection codes can be used normally, and if relevant adjustments are involved in the future, they will be notified separately.