Netlink Clearing Co., Ltd. recently issued an announcement on the termination of the membership of Ruixiang Business Services Co., Ltd. (hereinafter referred to as "Ruixiang Business"), indicating that the company's membership will be terminated from May 6, 2024.
According to the mobile payment network, the third-party payment institution officially approved by the People's Bank of Ruixiang Commerce, the general-purpose commercial prepaid card issued by it - "Ruixiang Business Card", the application scope covers many fields such as supermarkets, department stores, entertainment and leisure, home appliances and digital, catering, tobacco and alcohol, jewelry, tourist attractions, mobile phone recharge, water and electricity payment, etc. Ruixiang Business now has more than 60,000 cooperative merchant stores and more than 160,000 service enterprises.
Ruixiang business type is prepaid card issuance and acceptance, it is worth noting that when it obtained the payment license in 2011, its business scope was only in Jiangsu Province. Later, by undertaking business, Ruixiang Business successively merged Hefei New Thinking Business Management Co., Ltd. and Shanghai Daqian Business Service Co., Ltd., and the business scope of prepaid card issuance and acceptance was added to Anhui and Shanghai. Later, Ruixiang Group, the parent company of Ruixiang Commerce, undertook the business of Beijing Fanxing Valley Information Technology Co., Ltd. in the form of equity control, and the business scope was increased to Beijing.
It is worth noting that NetUnion has repeatedly issued announcements on the termination of the membership of member institutions, including many payment institutions. However, most of the payment institution memberships previously terminated by Netlink have been cancelled from their payment licenses, while the payment license of Ruixiang Commerce is still valid, perhaps because its business type is relatively simple, and the network connection system is no longer needed.