Shanghai Shopping card Big inventory to prevent misappropriation of precipitation funds

The central bank's Shanghai headquarters ordered non-financial institutions to pay for full registration in the next two months, the issuer of smart card, the Joint China OK Card and other people familiar with the shopping card in Shanghai must complete the registration formalities at the central bank's Shanghai headquarters. This will be part of the registration of the entire Shanghai Non-financial institution in the payment liquidation business.　　According to a recent announcement by the central bank's headquarters in Shanghai, specific non-financial institutions, including online payments and mobile phone payments, should complete similar registration procedures by July 31.　　Two days later June 5, the central bank will convene these specific non-financial institutions of the relevant heads of the meeting, on the scope of registration, filling requirements, investigation confirmation and other matters put forward specific requirements. The central bank's Shanghai headquarters said, "This is mainly to grasp the Shanghai non-financial institutions to pay the business situation, improve the payment service market supervision policy."　　According to the central bank's April 17 announcement of the 7th this year, the regional central bank branches are in fact doing a similar action, mapping non-financial institutions engaged in payment business.　　Many in the industry judged that, based on these registration results, the central bank is very likely to introduce legislation in the future, these similar banking institutions formally into the scope of regulation. The reason is not difficult to understand.　　For example, in the case of a non-financial institution that engages in shopping cards, a large amount of money is deposited in the hands of a merchant who buys a card from a customer's payment and finally finds a settlement in these institutions. The central bank had previously published in 2005 the Rules for the administration of payments and clearing organizations (draft) to try to improve regulation of such institutions. But in the end, for a variety of reasons, has been unable to launch the final.　　As a result, the central bank was seen as a precursor to the acceleration of the law. "Many organizations very much hope that the" Payment liquidation organization management measures ", the non-financial institutions engaged in payment liquidation of the conduct of norms.　　Luo Rui, deputy chief executive of the central bank, recently told a news conference at the Shanghai Municipal government that the central bank's ultimate goal is to safeguard the interests of all parties and to provide protection from the system. It is particularly noteworthy that the central bank will implement an audit access system for these institutions, in accordance with the management of the Settlement organization (draft).　　The market has also been keen to speculate on whether the central bank will license these institutions. In response, the central bank in its announcement of April 17 this year, said in particular, "the results of registration only as a reference for the formulation of relevant policies, should not be regarded as or construed as the People's Bank of China to the specific non-financial institutions engaged in the payment liquidation business of the administrative license decision." However, a relevant official at the central Bank's Shanghai headquarters told the Morning Post in a private statement, "from a personal point of view, drawing on the experience of other countries, the licensing of these payment agencies is indeed a more feasible way of management in the future." According to an expert who declined to be named, if the licensing management were to be implemented, it would mean that some small-scale card issuers or online paymentInstitutions are likely to have to withdraw from the city. It is often understood that Shanghai has a number of network payment agencies including fast money, as well as the above-mentioned several well-known shopping card issuers, but there are more similar institutions because of visibility and other reasons not to be familiar with the market.