Due to the pressure of market competition, many third-party payment institutions are in the process of promoting business and competing for users, and they are blind to the existing violations. At present, the central bank and other regulatory authorities continue to issue policies. The regulatory requirements in the field of third-party payment have been more detailed, but the key is to standardize the market competition order and implement the responsibilities of all parties. Otherwise, it will not deal with the violations and will not solve the problem from the root cause.
On December 6th, the news reported on the new means of credit card theft, and once again focused people's attention on the third-party payment field that has been repeatedly approved this year.
According to reports, lawless elements handled more than 300 POS machines at third-party payment institutions such as UBS, Lok Fu and Lakara, and hacked pos machines to steal user credit card account information; and the above-mentioned third-party payment institutions were suspected of illegal operations, including permission. False merchants entering the network, POS violations, and cross-provincial administrative areas to collect business, etc., give criminals a chance.
Many experts interviewed by the reporter analyzed that due to the pressure of market competition, many third-party payment institutions are in the process of promoting business and competing for users, and they are blind to one another. At present, the central bank and other regulatory authorities have continuously issued policies. The regulatory requirements for third-party payment areas have been more detailed, but the key is to regulate the market competition order and implement the responsibilities of all parties. Otherwise, it will not be able to deal with violations. Solve the problem.
Third party payment chaos was exposed
The use of POS machines to carry out the acquiring business is a common business model of third-party payment institutions. The rule of law weekend reporters saw on the websites of three third-party payment agencies of UBS, Lefu and Lacala that the three companies provided a variety of POS machines for merchants to apply for.
In the interview, the case handlers analyzed that the POS machine used to steal credit card crimes was able to succeed. First, some POS machines produced by some manufacturers had technical defects. They did not follow the POS machine safety requirements, so that the POS machine was “disassembled and destroyedâ€. .
Secondly, merchants need to register with the third-party payment institution to operate the POS business. Before entering the network, the third-party payment institution should strictly review the business license, tax registration certificate, and valid identity documents for the special merchants; the real-name management is not in place. It has also led to the use of false merchants to apply for POS machines and illegally carry out cross-provincial administrative area acquiring business. This is also the main reason for the success of such stolen credit card crimes.
On December 7, Lacala officially issued a statement saying that in the case of the news exposure, "there was a terminal involved in our company, and 114 transactions were accumulated, totaling 9420.6 yuan, all of which were small debit card transactions of less than 100 yuan. No information leakage occurred. It is not a channel used by criminals to record bank card information, nor is it a channel for criminals to transfer funds. It is used to test the accuracy of bank card passwords."
The relevant person in charge of Lakara said in an interview that in the case, the criminals did not take the usual balance of inquiry to verify the bank card information, and switched to small, low-frequency, debit card transactions, deliberately circumvented. Risk monitoring.
"In this regard, after careful re-commissioning, we have perfected the monitoring rules in a targeted manner, added similar control measures, and used the means of identity information network verification, face recognition, quota control and other technical means to strengthen the network access review, further close with the police. The linkage mechanism is to prevent more serious criminals from using bank cards to commit crimes," said the relevant person in charge of Lakara.
“The attention paid by the outside world to third-party payment, while seeing similar negative energy, also needs to see the industry institutions do a good job. It is the continuous development of third-party payment that brings convenience to the society, whether it is Scanning code, swiping cards or NFC are all providing users with a more comfortable experience,†said the relevant person in charge of Lakara.
The other two institutions, also named by Focus Interview, did not respond to UBS and Lok Fu.
The real name system of merchants is still difficult to implement
Huang Qiang (a pseudonym), a business person working at a third-party payment institution in China, told reporters that if the merchants who apply for network access to POS machines are required to follow the strict procedures, they should implement the real-name system from the aspects of network access review, daily transaction monitoring, and daily return visits. management.
“In the development of merchants, third-party payment institutions should carefully check the licenses and business scope of the merchants, strictly enforce the requirements for on-site signing and on-site installation; and after the merchants enter the network, they should also do a good job of identifying the merchants and pass suspicious transactions. Case investigation and counter-telephone calls and on-site visits will continue to identify merchants' identities and prevent false merchants from using POS machines to collect orders." Huang Qiang told reporters.
However, Huang Qiang said frankly that in the actual operation, many third-party payment institutions are not strict with the review of merchants, and they have not done the above requirements. The problem of false merchants entering the network is very serious. "For the verification of merchant information, many times It is only necessary to provide a copy of the relevant materials, but the field visits and return visits that should be carried out are often ineffective."
At the beginning of this year, the People’s Bank of China launched a special spot check on the outsourcing of bank card receipts nationwide. According to the “Notice on the spot check on the outsourcing of bank card receipts†issued by the People’s Bank of China on March 15, the spot check It was found that some of the acquirers had the most serious problem of not implementing the real-name system of special merchants. A total of 171,845 merchants were inspected and 49,472 false merchants were identified, accounting for 28.79%.
In the notice of the People's Bank of China, the three companies exposed by the news were also “listed on the listâ€: According to the spot check, Shenzhen UBS Information Technology Co., Ltd. Hefei, Inner Mongolia, Ningxia Branch, Lefu Payment Co., Ltd. Cara Payments Co., Ltd. Ningbo Branch was pointed out that the proportion of false merchants is higher than 65%, and there are serious problems in the authenticity review of merchants.
In addition to the real-name system, Huang Qiang also said that some preferential service policies carried out by third-party payment institutions for contracted merchants are often used by criminals.
According to him, some third-party payment platforms provide the POS machine T+0 settlement service to the merchants, and the funds transferred through the POS machine are advanced to the merchants on the transaction day, thus avoiding the need for the transfer funds to be settled by UnionPay. The second day is the limit of the account.
"From the industry point of view, the competition in the field of third-party payment is fierce and chaotic, which has led to various agencies hiring a large number of outsourced personnel in order to compete for merchant resources, and at all costs to promote business, and the violations are also a problem. Only one eye is closed." Pan Xiuping, secretary general of the Banking Law Research Society of the Chinese Law Society, told the Law Weekend reporter.
"Opening the ticket" and "column rules" are intensively released
The reporter learned from the information released by the People's Bank of China that up to now, a total of 267 payment institutions across the country have been allowed to engage in payment services, including online payment, multi-purpose prepaid card issuance and acceptance, and bank card receipt.
According to the "General Situation of the Payment System Operation in the Third Quarter of 2016" issued by the People's Bank of China, the mobile payment business maintained rapid growth in the third quarter of this year, and non-bank payment institutions handled 44.082 billion online payment services, amounting to 26.34 trillion yuan. The year-on-year growth was 106.83% and 105.82% respectively.
However, along with the rapid growth of third-party payment services, the People's Bank of China has issued more and more “penalties†for third-party payment companies. According to statistics from the Blue Whale Bank Channel, since January to October this year, there have been 25 third-party payment agencies that have been punished by the central bank. The reasons for being punished include failing to fulfill customer identification obligations in accordance with regulations, and misappropriating customers for payment. Gold, unimplemented real-name system of special merchants, violation of relevant liquidation management regulations, violation of anti-money laundering laws and so on.
Among these penalties, on August 16, Yibao Payment Co., Ltd. was confiscated by the People's Bank of China for illegal proceeds of 10.5292 million yuan and a fine of 42.690 million yuan for illegal gains, totaling 52.916 million yuan. . This is also the biggest ticket issued by the People's Bank of China to third-party payment agencies in recent years.
In addition to penalties, relevant regulations and policies on strengthening third-party payment supervision have also been introduced intensively in recent years. Since the People's Bank of China issued the “Measures for the Administration of Payment Services for Non-Financial Institutions†in 2010, since the non-bank institutions have implemented the admission management of payment services, the regulatory measures for third-party payment have been continuously improved.
The “Administrative Measures for Network Payment Services of Non-bank Payment Institutionsâ€, which was officially implemented on December 28, 2015 and implemented on July 1 this year, requires third-party payment institutions to implement real-name management when opening a payment account for customers. The most stringent payment of new regulations in history."
In line with the special rectification of Internet financial risks carried out by the State Council, the People's Bank of China and 13 ministries and commissions formulated and issued the “Implementation Plan for Special Remediation Work for Non-Bank Payment Institutionsâ€, which included third-party payment in the field of key remediation, and clearly stated that During the special rectification period, applications for the establishment of new institutions will generally not be accepted, and the supervision and guidance of the licensed institutions will be better focused.
Vicious competition is often urgently punished
"It can be seen that China's regulatory rules in the field of third-party payment are very detailed and clearly defined in all aspects. The key to the continuous emergence of problems with third-party payment institutions is that some third-party payment institutions have not strictly implemented relevant regulatory measures." Deng Jianpeng, a professor at the School of Law of the Nationalities University, said.
Pan Xiuping holds the same view. He said that at present, the vicious competition and disorderly competition carried out by illegal means in the third-party payment institution industry are frequent. If a third-party payment institution is strictly implemented in accordance with the regulations of the state regulatory authorities, it is bound to It will result in the loss of merchants and shrinking market share.
"This kind of market competition has not created greater value, but only redistributes the market share of each family. Purifying the city to withdraw the territory, standardizing the competition order, and encouraging enterprises to create more value-added services should be the third-party payment field. The future direction of development." Pan Xiuping said.
As for the illegal and criminal phenomena in the field of third-party payment, Pan Xiuping believes that since the entire chain involves many links such as banks and third-party payment institutions, problems arising in various links should be correspondingly implemented and corresponding responsibilities should be found. When stealing credit cards and other illegal or criminal acts, the relevant agencies will compensate the consumers whose property and interests have been harmed. "If the liability for compensation cannot be implemented, there is no disciplinary mechanism, and the case cannot be handled without pain and it cannot be solved from the root cause. problem".
Third-party payments cannot leave all "boards"
Lawyer Xiao Wei of Beijing Dacheng Law Firm pointed out that it is undeniable that the problems in the field of third-party payment are caused by the lack of risk control capabilities and business capabilities of some third-party payment institutions; however, it should also be seen. In a lot of love
On December 6th, the news reported on the new means of credit card theft, and once again focused people's attention on the third-party payment field that has been repeatedly approved this year.
According to reports, lawless elements handled more than 300 POS machines at third-party payment institutions such as UBS, Lok Fu and Lakara, and hacked pos machines to steal user credit card account information; and the above-mentioned third-party payment institutions were suspected of illegal operations, including permission. False merchants entering the network, POS violations, and cross-provincial administrative areas to collect business, etc., give criminals a chance.
Many experts interviewed by the reporter analyzed that due to the pressure of market competition, many third-party payment institutions are in the process of promoting business and competing for users, and they are blind to one another. At present, the central bank and other regulatory authorities have continuously issued policies. The regulatory requirements for third-party payment areas have been more detailed, but the key is to regulate the market competition order and implement the responsibilities of all parties. Otherwise, it will not be able to deal with violations. Solve the problem.
Third party payment chaos was exposed
The use of POS machines to carry out the acquiring business is a common business model of third-party payment institutions. The rule of law weekend reporters saw on the websites of three third-party payment agencies of UBS, Lefu and Lacala that the three companies provided a variety of POS machines for merchants to apply for.
In the interview, the case handlers analyzed that the POS machine used to steal credit card crimes was able to succeed. First, some POS machines produced by some manufacturers had technical defects. They did not follow the POS machine safety requirements, so that the POS machine was “disassembled and destroyedâ€. .
Secondly, merchants need to register with the third-party payment institution to operate the POS business. Before entering the network, the third-party payment institution should strictly review the business license, tax registration certificate, and valid identity documents for the special merchants; the real-name management is not in place. It has also led to the use of false merchants to apply for POS machines and illegally carry out cross-provincial administrative area acquiring business. This is also the main reason for the success of such stolen credit card crimes.
On December 7, Lacala officially issued a statement saying that in the case of the news exposure, "there was a terminal involved in our company, and 114 transactions were accumulated, totaling 9420.6 yuan, all of which were small debit card transactions of less than 100 yuan. No information leakage occurred. It is not a channel used by criminals to record bank card information, nor is it a channel for criminals to transfer funds. It is used to test the accuracy of bank card passwords."
The relevant person in charge of Lakara said in an interview that in the case, the criminals did not take the usual balance of inquiry to verify the bank card information, and switched to small, low-frequency, debit card transactions, deliberately circumvented. Risk monitoring.
"In this regard, after careful re-commissioning, we have perfected the monitoring rules in a targeted manner, added similar control measures, and used the means of identity information network verification, face recognition, quota control and other technical means to strengthen the network access review, further close with the police. The linkage mechanism is to prevent more serious criminals from using bank cards to commit crimes," said the relevant person in charge of Lakara.
“The attention paid by the outside world to third-party payment, while seeing similar negative energy, also needs to see the industry institutions do a good job. It is the continuous development of third-party payment that brings convenience to the society, whether it is Scanning code, swiping cards or NFC are all providing users with a more comfortable experience,†said the relevant person in charge of Lakara.
The other two institutions, also named by Focus Interview, did not respond to UBS and Lok Fu.
The real name system of merchants is still difficult to implement
Huang Qiang (a pseudonym), a business person working at a third-party payment institution in China, told reporters that if the merchants who apply for network access to POS machines are required to follow the strict procedures, they should implement the real-name system from the aspects of network access review, daily transaction monitoring, and daily return visits. management.
“In the development of merchants, third-party payment institutions should carefully check the licenses and business scope of the merchants, strictly enforce the requirements for on-site signing and on-site installation; and after the merchants enter the network, they should also do a good job of identifying the merchants and pass suspicious transactions. Case investigation and counter-telephone calls and on-site visits will continue to identify merchants' identities and prevent false merchants from using POS machines to collect orders." Huang Qiang told reporters.
However, Huang Qiang said frankly that in the actual operation, many third-party payment institutions are not strict with the review of merchants, and they have not done the above requirements. The problem of false merchants entering the network is very serious. "For the verification of merchant information, many times It is only necessary to provide a copy of the relevant materials, but the field visits and return visits that should be carried out are often ineffective."
At the beginning of this year, the People’s Bank of China launched a special spot check on the outsourcing of bank card receipts nationwide. According to the “Notice on the spot check on the outsourcing of bank card receipts†issued by the People’s Bank of China on March 15, the spot check It was found that some of the acquirers had the most serious problem of not implementing the real-name system of special merchants. A total of 171,845 merchants were inspected and 49,472 false merchants were identified, accounting for 28.79%.
In the notice of the People's Bank of China, the three companies exposed by the news were also “listed on the listâ€: According to the spot check, Shenzhen UBS Information Technology Co., Ltd. Hefei, Inner Mongolia, Ningxia Branch, Lefu Payment Co., Ltd. Cara Payments Co., Ltd. Ningbo Branch was pointed out that the proportion of false merchants is higher than 65%, and there are serious problems in the authenticity review of merchants.
In addition to the real-name system, Huang Qiang also said that some preferential service policies carried out by third-party payment institutions for contracted merchants are often used by criminals.
According to him, some third-party payment platforms provide the POS machine T+0 settlement service to the merchants, and the funds transferred through the POS machine are advanced to the merchants on the transaction day, thus avoiding the need for the transfer funds to be settled by UnionPay. The second day is the limit of the account.
"From the industry point of view, the competition in the field of third-party payment is fierce and chaotic, which has led to various agencies hiring a large number of outsourced personnel in order to compete for merchant resources, and at all costs to promote business, and the violations are also a problem. Only one eye is closed." Pan Xiuping, secretary general of the Banking Law Research Society of the Chinese Law Society, told the Law Weekend reporter.
"Opening the ticket" and "column rules" are intensively released
The reporter learned from the information released by the People's Bank of China that up to now, a total of 267 payment institutions across the country have been allowed to engage in payment services, including online payment, multi-purpose prepaid card issuance and acceptance, and bank card receipt.
According to the "General Situation of the Payment System Operation in the Third Quarter of 2016" issued by the People's Bank of China, the mobile payment business maintained rapid growth in the third quarter of this year, and non-bank payment institutions handled 44.082 billion online payment services, amounting to 26.34 trillion yuan. The year-on-year growth was 106.83% and 105.82% respectively.
However, along with the rapid growth of third-party payment services, the People's Bank of China has issued more and more “penalties†for third-party payment companies. According to statistics from the Blue Whale Bank Channel, since January to October this year, there have been 25 third-party payment agencies that have been punished by the central bank. The reasons for being punished include failing to fulfill customer identification obligations in accordance with regulations, and misappropriating customers for payment. Gold, unimplemented real-name system of special merchants, violation of relevant liquidation management regulations, violation of anti-money laundering laws and so on.
Among these penalties, on August 16, Yibao Payment Co., Ltd. was confiscated by the People's Bank of China for illegal proceeds of 10.5292 million yuan and a fine of 42.690 million yuan for illegal gains, totaling 52.916 million yuan. . This is also the biggest ticket issued by the People's Bank of China to third-party payment agencies in recent years.
In addition to penalties, relevant regulations and policies on strengthening third-party payment supervision have also been introduced intensively in recent years. Since the People's Bank of China issued the “Measures for the Administration of Payment Services for Non-Financial Institutions†in 2010, since the non-bank institutions have implemented the admission management of payment services, the regulatory measures for third-party payment have been continuously improved.
The “Administrative Measures for Network Payment Services of Non-bank Payment Institutionsâ€, which was officially implemented on December 28, 2015 and implemented on July 1 this year, requires third-party payment institutions to implement real-name management when opening a payment account for customers. The most stringent payment of new regulations in history."
In line with the special rectification of Internet financial risks carried out by the State Council, the People's Bank of China and 13 ministries and commissions formulated and issued the “Implementation Plan for Special Remediation Work for Non-Bank Payment Institutionsâ€, which included third-party payment in the field of key remediation, and clearly stated that During the special rectification period, applications for the establishment of new institutions will generally not be accepted, and the supervision and guidance of the licensed institutions will be better focused.
Vicious competition is often urgently punished
"It can be seen that China's regulatory rules in the field of third-party payment are very detailed and clearly defined in all aspects. The key to the continuous emergence of problems with third-party payment institutions is that some third-party payment institutions have not strictly implemented relevant regulatory measures." Deng Jianpeng, a professor at the School of Law of the Nationalities University, said.
Pan Xiuping holds the same view. He said that at present, the vicious competition and disorderly competition carried out by illegal means in the third-party payment institution industry are frequent. If a third-party payment institution is strictly implemented in accordance with the regulations of the state regulatory authorities, it is bound to It will result in the loss of merchants and shrinking market share.
"This kind of market competition has not created greater value, but only redistributes the market share of each family. Purifying the city to withdraw the territory, standardizing the competition order, and encouraging enterprises to create more value-added services should be the third-party payment field. The future direction of development." Pan Xiuping said.
As for the illegal and criminal phenomena in the field of third-party payment, Pan Xiuping believes that since the entire chain involves many links such as banks and third-party payment institutions, problems arising in various links should be correspondingly implemented and corresponding responsibilities should be found. When stealing credit cards and other illegal or criminal acts, the relevant agencies will compensate the consumers whose property and interests have been harmed. "If the liability for compensation cannot be implemented, there is no disciplinary mechanism, and the case cannot be handled without pain and it cannot be solved from the root cause. problem".
Third-party payments cannot leave all "boards"
Lawyer Xiao Wei of Beijing Dacheng Law Firm pointed out that it is undeniable that the problems in the field of third-party payment are caused by the lack of risk control capabilities and business capabilities of some third-party payment institutions; however, it should also be seen. In a lot of love
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