MAO-June: IPs is forming a new set of information security solutions

"Shanghai Financial Daily": Last year, the third party payment industry overall transaction size of 2.2038 trillion yuan, an increase of 118%. It is expected that by 2013, China's electronic payment industry transactions will exceed 4 trillion yuan. With the rapid development of third party payment institutions, it is urgent to improve their risk management ability. At present, customer information leakage, counterfeit card fraud, network fraud, and so on network crime cases quickly climbed, the third party payment business has become a new high incidence of bank card crime. What are the characteristics of the fast pay Information Technology Limited (IPS) in enhancing information security?

Civilian and military: In addition to the existing anti-fraud system, firewall, digital signature, certificate encryption and other technical means, IPS is forming a new set of information security solutions, and with the leading security companies at home and abroad actively cooperate to analyze the effectiveness of risk management from a larger scope, that is, a large platform concept, Can integrate all walks of life and financial institutions of data, and ultimately form to pay the company's core security base, the establishment of THIRD-PARTY information security standards.

In the environmental governance of cyber fraud, IPs issued a "cloud payment security" solution, based on the support of its own server to achieve "supervision and inspection" integration, at the same time with the domestic and international leading security Service providers 360, Qualys strategic cooperation, the formation of "self-examination monitoring, information sharing, Ping Typhoon control" Security Strategy layout.

"Shanghai Financial Daily": Some experts pointed out that there are some outstanding problems in the third party payment business. For example, third party payment institutions beyond the scope of business licensing, the formation of multiple financial roles, there are "first violation of the approval", "first breakthrough and then forced" phenomenon. For example, a Third-party payment agency has a large number of online and offline merchants connected at one end, one end and the bank of direct-linked liquidation, not only the receipt of a single agency, but also carried out a trans-line transfer business, playing the role of the bank card clearing Organization (UnionPay), their own collection and liquidation, both athletes and referees. What do you think of the "third party payment agencies that are beyond the scope of business licensing to form multiple financial roles" mentioned above? How does a third party pay for its role in the present?

Mao: Third party payments are positioned by the central bank as a "non-financial institution" whose role is unlikely to replace commercial banks. At present, IPs undertakes the "role" of the integrator and the redeployed of social resources, and fully integrates the resources of the industry up and down to make it become a diversified resource integration platform. Through the continuous deepening and extension of the industry, from the initial retail industry to the current including foreign trade, modern services, creative industries, supply chain solutions and other industries, and vigorously improve the overall operational efficiency of society. At the same time, the relationship between the third party payment and the bank is more of a cooperative relationship, because of different positioning, the bank is more to protect the basic payment product safety and smooth, while the third party payment is based on this research and development, so the two sides is more of a collaborative relationship.

Shanghai Financial Daily: According to statistics, there are currently 101 Third-party payment agencies licensed by the People's Bank of China. On this year's two sessions, CPPCC members proposed, "The proposed strict control of the number of licences, a substantial increase in access threshold." To have a total capacity of the concept, Ningquewulan, can not herd. At the same time, further strict access standards and exit mechanism, not only to review the registered capital, business sites, such as rigid constraints, but also to review the risk control of the payment institutions and the quality of the employees of soft constraints. "Excuse me, is there any provision in the industry related to the exit mechanism?"

MAO-June: The licence is not a "death-free gold medal", in the People's Bank of China promulgated the "non-financial institutions payment services management measures", clearly stipulates: The cumulative loss exceeds the amount of money in fact 50%, there are major business risks, there are major violations of the law, The People's Bank of China and its affiliates have the right to order them to stop processing part or all of their payments.

In addition, there are a number of penalty clauses in the scheme, which have strict risk control requirements for the payment enterprises. For example, the People's Bank of China and its affiliates are penalized for failing to comply with their anti-money-laundering obligations in accordance with the state's laws and regulations on anti-money-laundering; In serious circumstances, the People's Bank of China has cancelled its "Payment business license".

Shanghai Financial Daily: In this year's two sessions, the representative proposed that the enactment of the "People's Republic of China Electronic Payment Law", from the legislative purposes, scope of application, basic principles, Electronic payment definition, electronic Payment type, regulatory departments, electronic payment subject, electronic payment approval and certification and other aspects make clear provisions, To effectively regulate electronic payment activities. is the time ripe for the enactment of the Electronic Payment Act? What are some of the specific requirements mentioned above?

Mao: As early as January 2005, the People's Bank of China issued the "Electronic Payment guideline (number one)", which comprehensively aimed at the electronic payment of the norms, security, technical measures, responsibility and other provisions.

In February 2012, the National Development and Reform Commission, the Ministry of Commerce and other eight ministries issued the "to promote the healthy and rapid development of E-commerce notice", which again mentioned the development of online payment standards and other content. At present, from management, regulatory agencies to pay companies need such a higher level of electronic payment of the formal legal provisions, standardize the safety standards for electronic payments, clear on the payment of the right to deal with the rules and responsibilities.

"Shanghai Financial Daily": the development of third-party payments can not be separated from business innovation, experts suggest that the central bank should encourage a good business situation, wind control capacity of third-party payment agencies to pilot innovative business, reduce the approval process. If we actively support the compliance of domestic payment enterprises to carry out cross-border operations to meet the normal cross-border payment needs of Chinese residents, and enhance the international competitiveness of China's payment enterprises. What is the progress of IPs in innovation? What are the expectations for the regulatory innovation incentives?

MAO-June: IPs currently mainly in the business layout, product structure, payment security and other aspects of innovation. With the gradual maturation of the domestic market and the increasing demand of consumers for cross-border payment, more domestic enterprises want to use E-commerce platform to go to the international market to seek a broader market space, at this time, Cross-border online payment becomes the first problem to be solved. As early as 2008, IPS launched the Icpay International credit card payment system to help businesses solve the problems of online credit card trading. The system supports transactions of up to 9 currencies and supports 6 language payment interfaces. At the end of last year, "Icpay International credit card payment system service" was ranked as the 2011 Shanghai SME "Brand Products/Services" recommended list, which is the first third-party payment industry to obtain brand-recommended Cross-border payment products. In the future, we expect regulators to give third parties more space to pay for cross-border payments, open trading channels and get through trading restrictions.