[This week] is a light reading column created for the mobile payment network, focusing on the hot spots of the mobile payment industry for a week, covering major new technological innovations and application fields. Click on the title to read the original article directly.
Central Bank: Increase resources to improve the bank card acceptance environment
Recently, the People's Bank of China held a symposium in Shanghai on "Strengthening the Construction of the Kaki Market and Improving the Kaki Ecology".
The meeting required that all parties in the bank card industry should take the initiative to take action, refine work measures, focus on key cities and key places, increase resource investment, and improve the bank card acceptance environment. Deepen the supply-side structural reform of card issuance, acquiring, transfer and clearing, strengthen the synergy of the bank card industry, integrate resources from all parties, and jointly build a sustainable business model. Coordinate risk prevention and control and service optimization, and promote the standardized development of the bank card market.
The People's Bank of China (PBOC) issued a guide to the payment of e-RMB for foreign visitors to China
On March 18, the official WeChat account of the People's Bank of China released a digital RMB payment guide for overseas visitors to China.
According to reports, the overseas version of the e-RMB App currently supports mobile phone numbers in more than 210 countries or regions to register accounts and open wallets, and overseas visitors to China do not need to hold a bank account of the operating institution to open a digital RMB wallet.
The central bank: in 2024, it will steadily promote the research and development and application of digital yuan
On March 15, the People's Bank of China held a video conference on currency, gold, silver and security work in 2024 to summarize the currency, gold and silver security work in 2023, analyze the current situation, and deploy key tasks in 2024.
The meeting called for the steady promotion of the research and development and application of digital yuan. Continuously improve the management mechanism of cargo and gold security, strengthen system construction, optimize management processes and models, and strengthen the empowerment of science and technology.
The State Administration of Foreign Exchange (SAFE) issued a document to improve the foreign exchange management of overseas bank card transactions, which is related to MCC
Recently, the State Administration of Foreign Exchange (SAFE) issued the Notice of the General Department of the State Administration of Foreign Exchange on Updating the Classification of Merchant Category Codes for Domestic Bank Cards Used Overseas (Hui Zong Fa [2024] No. 15) to improve the management of foreign exchange business of bank cards, which will be implemented from May 1, 2024.
The main contents of the "Notice" include: First, to adapt to the changes in the merchant category codes of domestic and foreign bank card clearing institutions in recent years, and update the classification of merchant category codes used by bank cards abroad. The second is to optimize the classification and update mechanism of merchant category codes to achieve dynamic full coverage of the classification management of new merchant category codes.
Ant Group's organizational structure has been upgraded, and Han Xinyi will be fully responsible for the digital payment business
On March 19, Jing Xiandong, chairman and CEO of Ant Group, issued a letter to all employees, announcing a new round of organizational structure upgrades: Han Xinyi will become the president of Ant Group, fully responsible for digital payment, digital interconnection and digital financial business, and report to Jing Xiandong.
In addition to personnel transfers, the most eye-catching is the change in Ant Group's organizational structure. Jing Xiandong also revealed in the all-staff letter that Ant International, OceanBase, and Ant Digital have set up separate boards of directors to independently face the market.
Tenpay increased its capital to 15.3 billion, ranking first in the whole payment industry
The People's Bank of China (PBoC) has updated the information publicity of "Payment Business License Information Publicity - Changes in Major Matters of Non-bank Payment Institutions", and agreed to increase the registered capital of Tenpay Payment Technology Co., Ltd. to 15.3 billion yuan.
Previously, the registered capital of Tenpay was only 1 billion yuan, and the scale of this capital increase will be 15 times that of the original, and it will become the payment institution with the highest registered capital.
The listing is scheduled for March 28
On March 20, Lianlian Digital announced that the company plans to offer 55.92 million shares globally, including 5.592 million shares in Hong Kong and 50.328 million shares in the international offering. The offering date is from 20 March to 25 March, with a maximum offer price of HK$10.95 in board lots of 500 shares, and it is expected that H shares will commence trading on the Stock Exchange at 9 a.m. on 28 March 2024.
The net proceeds from the global offering will be used in four tranches: approximately 60% will be used to enhance technical capabilities, approximately 30% will be used to expand global business operations, approximately 5% will be used for future strategic investments and acquisitions, and approximately 5% will be used for general corporate purposes and working capital needs.
Shande payment cooperates with the investigation?
On March 7, Taopai reminded its users through a "message notification" in the app, saying that "multiple abnormal accounts were found to be using the platform to engage in illegal transactions". For this reason, Taopai has reported to the police as soon as possible, and cooperated with the police to assist the victim in recovering the funds.
The notice further explained that the platform suspended trading due to the requirement to freeze the trading account during the investigation, and at the same time the payment channel Shande cooperated with the investigation to suspend the interface service.
The central bank will cancel the second payment license in 2024
According to the latest list of cancelled licensed payment institutions published on the official website of the central bank, Shenzhen UnionPay Financial Network Co., Ltd. has been cancelled from the "Payment Business License", becoming the 87th and the second payment institution to confirm "losing its license" this year.
Founded in 1996, UnionPay Financial Network was a comprehensive payment service institution engaged in bank card acquiring in Shenzhen under China UnionPay in the early days, and obtained a payment license in 2011 to carry out bank card acquiring business in Guangdong Province. After a series of development and changes, the UnionPay financial network was integrated into the UnionPay business system and became a wholly-owned subsidiary of the latter.
A number of payment institutions have renewed their certificates! The person in charge has changed
According to the information of "Licensed Institutions (Payment Institutions)" recently updated on the official website of the central bank, a number of payment institutions completed the "renewal" of payment licenses on March 13 due to changes in the name of the enterprise, legal representative (person in charge), business place, etc.
It involves Helibao, Online Banking, Vipshop, Yitong Financial, Yilian Pay, and Tianfutong.
The merchant involved was not strictly reviewed, and the payment institution was sentenced to pay 60 million yuan
The Shanghai Financial Court recently released the top 10 typical cases in 2023, including a case of "Determination of the Responsibility of the Acquirer for Illegally Setting Up a Special Merchant Settlement Account".
This is a typical case caused by the lax review of the payment institution in the special merchant process, and the Shanghai Financial Court also gave sufficient reasons for the judgment as to whether the payment institution should be liable for tort damages.
ICBC and Meituan launch digital yuan "coin wallet"
Recently, Meituan quietly launched a "coin wallet" function in its digital yuan zone. By loading smart contracts in the "coin wallet", the safety of users' funds is guaranteed.
So how to understand the digital yuan "coin purse", and how to open and use it?
Yika's financial report: payment transaction volume increased by 29.2% to 2.88 trillion
On March 21, Lebrush's parent company, Yika, released its 2023 annual performance report. Compared with the same period last year, Yika's revenue in 2023 increased by 15.6% year-on-year to RMB3.951 billion.
According to the report, the total payment volume (GPV) of mobile cards increased by 29.2% year-on-year to RMB2.88 trillion, with the number of overseas merchants served exceeding 5,000, the in-store e-commerce service maintained growth, with the total merchant transaction volume (GMV) exceeding RMB4.3 billion, a year-on-year increase of 30.3%, and the revenue of merchant solutions increased by 17.2% year-on-year to RMB363 million, benefiting from cross-sector business synergy.
PAX earnings report: payment terminal revenue fell by 18%, and many markets around the world declined
PAX Global Technology Limited, a provider of electronic payment terminals and related service solutions, announced its 2023 annual results. According to the data, PAX achieved revenue of about HK $6.709 billion during the reporting period, a year-on-year decrease of 16.8%.
In terms of regional sales, in 2023, PAX will see a decline in revenue in all markets around the world. Latin America and the Commonwealth of Independent States (CIS) decreased by 22.2%, Asia Pacific by 19.5% and Europe, the Middle East and Africa by 15.7%.
Yufu paid 38 million shares were frozen
Yufu Industrial Investment Co., Ltd. (holding 100% of the shares), the parent company of the third-party payment institution Yufu Payment, has become an enterprise whose equity has been frozen due to its role as the person subject to execution. The amount of equity and other investment rights and interests held by the person subject to enforcement is 38 million yuan, and the freezing date is until March 6, 2027.
Yufu Pay was established in 2010 with a registered capital of 300 million yuan. On May 3, 2011, it obtained a payment license, which is the first batch of payment institutions to be licensed, and is also one of the few "national prepaid card issuing and acceptance institutions". In addition, Yufu Pay also has business qualifications or filings for Internet payment, fund sales payment and settlement, and RMB cross-border payment.
Mastercard and Alipay have reached a further cooperation
Mastercard announced the signing of a new cooperation agreement with Alipay to further expand its cross-border remittance business.
The agreement expands Mastercard's existing relationship with Alipay, allowing consumers to send and receive funds through digital wallets "near instantly".
SWIFT: RMB accounted for 4% of global payments in February
According to data from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the renminbi accounted for 4% of global payments in February 2024, still the fourth most active currency in global payments, down from 4.51% in January.
At present, the activity of the renminbi has surpassed that of the yen for four consecutive months, ranking fourth in the world. Prior to this, in November 2023, the share of global payments in RMB was 4.61%, exceeding the 3.83% of the yen.
Failure to effectively identify credit card arbitrage behavior resulted in a fine for CITIC Bank
On March 18, the Hangzhou branch of the credit card center of China CITIC Bank Co., Ltd. was fined 300,000 yuan. It mainly involves the poor control of the use of credit card funds, the actual use of cash installment funds for the purchase of wealth management products, and the failure to effectively identify credit card arbitrage behaviors.
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