[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.
The State Administration of Foreign Exchange (SAFE) and the Public Security Bureau (PSB) have joined hands to crack down on foreign exchange crimes
On May 10, the State Administration of Foreign Exchange (SAFE) and the Ministry of Public Security (MPS) jointly held a meeting on the promotion and deployment of the fight against foreign exchange violations and crimes, summarizing the results of the crackdown on foreign exchange violations and crimes since 2020 and arranging the key work in the next stage.
The meeting pointed out that in recent years, the State Administration of Foreign Exchange and the Ministry of Public Security have fully implemented the spirit of the 20th National Congress of the Communist Party of China, conscientiously implemented the decisions and arrangements of the Central Economic Work Conference and the Central Financial Work Conference, worked together to severely crack down on illegal and criminal activities of foreign exchange such as underground banks, jointly cracked hundreds of criminal cases of exchange-type underground banks, investigated and dealt with more than 4,000 enterprises and individuals who illegally bought and sold foreign exchange through underground banks, and fined and confiscated more than 1.7 billion yuan, effectively deterring illegal and criminal elements and effectively maintaining the order of economic operation. Effectively prevent and control financial risks.
Wanshi Internet is open!
Masterlink Information Technology (Beijing) Co., Ltd. announced its official opening, becoming the third bank card clearing institution to open in the domestic market in China. After the opening, Mastercard will start operating the Mastercard-branded bank card clearing business in China, cooperate with member institutions to issue Mastercard-branded bank cards for domestic and foreign use, and expand the acquiring business.
It is understood that on the opening day, more than 10 domestic commercial banks simultaneously launched more than 30 new "China Mastercard" bank card products.
Shanghai Pudong Development Bank and China Merchants Bank updated the "China Mastercard" bank card product through official channels
The Huanhui system was cancelled from the qualification of terminal manufacturers!
The UnionPay Identification Product Enterprise Qualification Office issued the Notice on Canceling the Qualification of Terminal Manufacturers of the Huanhui System, indicating that in order to continuously strengthen the quality and safety management of UnionPay certified products, the UnionPay Identification Product Enterprise Qualification Certification Office organized and carried out random inspections in 2023.
After inspection, Huanhui System Co., Ltd. has great security risks in the management of terminal serial numbers and keys, and does not meet the requirements of the "China UnionPay Payment Terminal Product Life Cycle Security and Quality Management Guidelines". In accordance with the Implementation Rules for the Qualification Certification of China UnionPay Payment Terminal Product Enterprises and the Rules for the Administration of Enterprise Qualification Certification of UnionPay Marking Products, the UnionPay Identification Product Enterprise Qualification Certification Office has decided to cancel the qualification of the terminal manufacturer of Global Exchange System Co., Ltd.
NetUnion terminates the membership of a payment institution!
Netlink Clearing Co., Ltd. recently issued an announcement on the termination of the membership of Ruixiang Business Services Co., Ltd., stating that it will terminate the membership of the company from May 6, 2024.
According to the mobile payment network, Ruixiang Business Service Co., Ltd. is a third-party payment institution officially approved by the People's Bank of China, and its issuance of a general-purpose commercial prepaid card - "Ruixiang Business Card", the application scope covers supermarkets, department stores, entertainment and leisure, home appliances and digital, catering, tobacco and alcohol, jewelry, tourist attractions, mobile phone recharge, water and electricity payment and many other fields. Ruixiang Business now has more than 60,000 cooperative merchant stores and more than 160,000 service enterprises.
Mobao paid the equity auction failed
According to Ali auction information, the 60.332806% equity transfer project of Chengdu Mobao Network Technology Co., Ltd., a third-party payment institution held by Chongqing Lifan Holdings Co., Ltd., ended on April 27, and the auction ended in failure due to no bidding.
According to public information, on April 12 this year, this part of the Mobao payment equity held by Lifan Holdings was publicly transferred on Ali Auction, and the starting price of 60.332806% of the equity was 129 million yuan. At this price, the overall valuation of Mobao is about 204 million yuan.
Zhonghui Pay was fined more than 2 million for false tax declaration!
Recently, the decision document number "Jin Shui Er Ji Zhi [2024] No. 29" shows that the Second Inspection Bureau of the Tianjin Taxation Bureau of the State Administration of Taxation imposed a fine of 50% of the tax payable on Zhonghui Electronic Payment Co., Ltd. for false tax declaration behavior, totaling 2,116,376.18 yuan, in accordance with the provisions of Article 63, Paragraph 1 of the Law of the People's Republic of China on the Administration of Tax Collection.
Citi Credit Card has been officially discontinued
According to the previous announcement issued by Citibank (China) Co., Ltd., from May 6, the transaction function of Citibank China personal credit card will be suspended.
Zhonghui Pay is listed as the executor!
According to the information recently disclosed by the China Enforcement Information Disclosure Network, on April 22, the payment institution Zhonghui Electronic Payment Co., Ltd. was listed as the executor, and the execution target was 89,517 yuan. The enforcement mainly involved a service contract dispute between Shanghai Quantai Electronic Equipment Co., Ltd. and Zhonghui Pay, and the relevant case number is (2024) Jin 0101 Zhi 1688.
Douyin paid the parent company to increase its capital to 2.15 billion
Recently, Tianjin Tongrong E-commerce Co., Ltd., the parent company of Wuhan Hezhong Yibao, the main company of the licensed payment institution "Douyin Pay", has undergone industrial and commercial changes. The registered capital increased from RMB 700 million to RMB 2.15 billion.
It is understood that the company was established in August 2013, the legal representative is Zhang Lidong, the business scope includes computer software, electronic information technology development, consulting, services, transfer, enterprise management consulting, wholly owned by Beijing Shibei Technology Co., Ltd., the latter by Zhang Yiming and Zhang Lidong respectively 99%, 1%.
The payment license was received, and the small commodity city was notified
On April 30, the Zhejiang Provincial Communications Administration notified 15 apps that infringed on the rights and interests of users (the third batch in 2024), including the well-known Commodity City. According to the report, the small commodity city was notified for two violations: illegal collection of personal information and mandatory, frequent and excessive request for permissions by APP.
Ant Group has established a new subsidiary
According to the national enterprise credit information, Ant Group recently established a new subsidiary, Beijing Digital Mali Technology Co., Ltd. According to the data, the establishment date of Digital Ant Power is May 7, 2024, with a registered capital of 50 million yuan, and the legal representative is Zhou Yun. According to public information, Zhou Yun is currently the vice president and chairman of the board of supervisors of Ant Group.
In terms of business scope, Digital Mali provides general projects, including technical services, technology development, technical consulting, technology exchange, technology transfer, technology promotion, etc. It also includes Internet data services, big data services, data processing services, computer system services, software development, artificial intelligence basic software development, artificial intelligence application software development, etc.
Two international payment giants announced their latest results
Recently, two overseas payment giants, PayPal and Block (formerly Square), have successively announced their financial results for the first quarter of fiscal 2024.
According to the report, PayPal's net revenue in the first quarter was $7.699 billion, an increase of 9% compared with $7.040 billion in the same period last year; Net income was $888 million, up 12% from $795 million in the year-ago quarter.
According to the report, Block's total net revenue in the first quarter was $5.957 billion, an increase of 19% compared with $4.990 billion in the same period last year; Excluding revenue from Bitcoin, Block's total net revenue in the first quarter was $3.23 billion, an increase of 14% compared to the same period last year. Block's net profit in the first quarter was $471 million, compared to a net profit of only $95.8 million in the same period last year, a significant year-over-year increase.
Taiwan's Financial Supervisory Commission (FSC) has issued a special law on extortion
According to the Taiwan Financial Supervisory Commission, in order to prevent and combat the harm of fraud, prevent and curb the improper use of finance, telecommunications and networks to engage in fraud crimes, protect victims, and protect the rights and interests of the people, the Executive Yuan has enacted the "Fraud Crime Harm Prevention Act" (anti-fraud special law) to strengthen anti-fraud measures and increase criminal penalties to crack down on fraud crimes. The Taiwan Financial Supervisory Commission cooperates with the formulation of the content involving financial institutions, a total of seven articles, and after the Legislative Yuan passes the parent law, it will start to formulate a sub-law as soon as possible, and the special law will also include virtual currency dealers and their accounts, and those who violate the regulations will face a fine of up to 10 million yuan if the circumstances are serious.
Hengqin and Hainan multi-functional free trade account business landed
On May 6, the Hainan Provincial Information Office held a series of press conferences on the theme of "Interpretation of Hainan Free Trade Port Policies" (the sixth session) - a special session on "The Official Launch of Multi-functional Free Trade Account". At the press conference, it was learned that the multi-functional free trade account of Hainan Free Trade Port was officially launched.
On the same day, under the guidance of the People's Bank of China and the State Administration of Foreign Exchange, the Administrative Measures for Multi-functional Free Trade Account Business in the Guangdong-Macao Intensive Cooperation Zone in Hengqin were officially implemented, and 10 pilot banks in the Guangdong-Macao Intensive Cooperation Zone in Hengqin successively launched multi-functional free trade account business.
The Shenzhen-Hong Kong cross-border data verification platform was put into trial operation
A few days ago, the Shenzhen-Hong Kong cross-border data verification platform was launched for trial operation in Shenzhen and Hong Kong. This is another innovative practice of accelerating the development of new productive forces and solidly promoting the high-quality development of the digital economy under the guidance of policies such as the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area and the Plan for Comprehensively Deepening the Reform and Opening-up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.
The Shenzhen-Hong Kong cross-border data verification platform is committed to building a new digital cross-border service infrastructure between Shenzhen and Hong Kong. The platform is developed based on the underlying technology of domestic open-source blockchain (FISCO BCOS) and distributed data transmission protocol (DDTP), and uses the technical advantages of blockchain to tamper with non-tampering and traceability, and realizes the trusted verification of user-carried data with hash value cross-border verification. The platform itself does not do cross-border transmission and storage of the original data files, and only provides trusted verification services for business scenario institutions based on the hash value.
The Hong Kong Monetary Authority (HKMA) has established a working group on the structure of the Ensemble project
On 7 May, the Hong Kong Monetary Authority (HKMA) announced the establishment of the Ensemble Project Architecture Working Group to support the development of Hong Kong's tokenization market. The Working Group will bring together the best of all parties to develop industry standards for Hong Kong's tokenization market and make recommendations on related issues to accelerate fintech innovation in Hong Kong.
The Ensemble project aims to pioneer an innovative financial market infrastructure that enables smooth interbank settlement of tokenised currencies through wholesale central bank digital currencies (wCBDCs), which is one of the HKMA's key initiatives to promote the development of the tokenised market.
The transaction volume of digital yuan in Fuzhou exceeded 250 billion yuan
As of the end of February, Fuzhou had completed a total of 70,317,300 e-RMB transactions (including exchange, transfer, and consumption), accounting for 73.51% of the province's total. The cumulative transaction volume was 252.903 billion yuan, accounting for 69.15% of the province, ranking among the top three in the country.
Zhongshan's first digital RMB foreign exchange settlement and sales business scenario was launched
On April 28, 2024, under the guidance of the staff, Mr. Huang successfully used the Postal Savings Bank app to purchase Hong Kong dollars with digital yuan, and the funds were used to travel to Hong Kong during the May Day holiday, which was the first foreign exchange settlement and sale business of digital yuan in Zhongshan.
The staff of the Postal Savings Bank said: "The e-CNY wallet supports binding to multiple bank cards, one-click payment during the foreign exchange purchase process, and automatic deduction of bank cards to complete the transaction, which makes it easy to realize inter-bank fund management and make foreign exchange purchase more convenient." The specific operation steps are as follows: open and log in to the Postal Savings Bank APP, search for the [Foreign Exchange Settlement and Sale] function, click [Foreign Exchange Purchase] or [Foreign Exchange Settlement] at the bottom of the page, and select [Digital RMB] as the payment/collection method.
Sri Lanka Commercial Bank enables Alipay QR code payment
Sri Lanka Commercial Bank became the first bank in Sri Lanka to enable Alipay QR code payment under the unified Lanka QR code.
The bank said that once the new QR code deployment is completed, the bank's more than 50,000 business customers will be able to accept Alipay QR codes; About 28,000 other merchants with POS devices can contact their banks to enable the service.