The impact of the receipt business, the impact of the third party to pay the future development of the industry?

Recently, the market out of the central bank to Fuyou, Yeepay, the accompanying payment, remit to pay the world these four third-party payment agencies to open a "ticket": Remit the world within a year will orderly exit 15 provinces and cities of the existing receipts business, Fuyou and Yi Bao will evacuate 7 provinces of receipt business, accompanying will evacuate 5 provinces 2 city receipts business.

The central bank's punishment of third party payers has been the second punch since this year. In March this year, the central bank issued the "People's Bank of China on the risk of a credit card" bulletin, the content of the bulletin shows that the 10 receiving agencies have not implemented the real name of the special merchant, the transaction monitoring is not in place, the risk of dealing with the problem, including the four institutions.

A senior executive who worked for a third-party payment agency said to the 21st century economic reporter that the reorganization was in the context of a nationwide crackdown on the use of authorized transactions by illegal elements from the end of last year to the beginning of the year; As a third party payment mechanism, there exists the problem of audit lax, monitoring is not in place, even active participation, and not one or two, the whole industry.

In the previous penalty, the central bank clear request from April 1 onwards, including the world, Yeepay payment, accompanying payment, Fuyou, Cayou, Maritime Finance, Sheng, Czech Republic Ching, including 8 third-party payment agencies nationwide suspension of access to new merchants, rectification of the stock of users, including China UnionPay's UnionPay business, Guangdong Ka Lian Two are also required self-examination. The term is half a year, only through the central bank's organization acceptance of qualified, can reopen new business expansion.

Why not six months, the central bank again out of the heavy hand, directly "cut" four third-party payment agencies of the receipts business? The executives said that the companies that had been punished were being reorganized, and that the dozens of institutions that had not been notified were still operating illegally and more seriously, which was why the central bank was "hurting the killers".

Impact of receipt Business

A person close to the remit of the world told the 21st century economic reporter, the list of the 15 provinces that remitted the world receipts is not yet announced, but it is certain that the core areas of Beijing, Shanghai, Guangdong and Shenzhen will not be affected, and that the overall revenue growth of the world in the first half of this year remains 50% Growth. But he also said it was undeniable that future receipts would have some impact in withdrawing from 15 provinces.

It is understood that the current business of large third-party payment agencies mainly focused on online payment, offline receipts, supply chain finance and storage value business. Based on Taobao and micro-letter (for the C-side), Alipay, Tenpay in the online payment business, and the world, fast money, such as independent third-party payment agencies (for the B-side), more focused on the latter three types of business, which is based on receipts, and in the overall business accounted for a relatively high proportion.

The above executives, who worked in third-party payments agencies, said receipts business is mainly based on the distribution in the Merchant's POS machine, and the POS machine is an entrance, the third payment agencies in addition to charge card commission, can also use the merchant funds flow data to carry out financial business, such as POS loans.

For example, he said, a highway toll station, for the construction of the highway companies, the most important is not fees, but the right to charge, the company can charge the right to mortgage, and then obtain bank loans to build other highways. and POS machine is this toll station, some third-party payment agencies around this part of the deposit funds to explore other business. As a result, the 4 companies that have been punished are bound to be affected by the receipts and the extended business. It is reported that before the total exit of the 15 provinces, and remit the world to co-operate with the number of merchants Tatsu millions.

But the top executives said the billing business was also the most problematic, and that this was the result of the authorization. According to the 21st Century Economic report reporter learned that the card-issuing behavior to meet the cardholder's consumption needs, provided a 115% of the amount of authorized to pay acceptance of the business, such as the cardholder's pre-grant limit of 1 million, in the credit card consumption, you can pay 1.15 million yuan. And some of the outlaws are using this loophole, by "joint" with the merchant, and constantly get cash, and the merchant will also collect some "handling fee" in the process, so the enthusiasm of participation is very high. Some of the incidents that were exposed earlier this year have even involved tens of billions of dollars, and are therefore of concern to the central bank and the CBRC.

The senior executives said that as third-party payment agencies have the obligation to monitor, but many small and medium-sized payment institutions in order to increase trading volume to earn a commission, but also open one eye. And the competition is intense, if you do not allow the merchant to operate this way, the merchant may change another POS machine immediately.

Ecological deterioration

In addition to the issue of pre-licensing, "code" is also a Third-party payment agency violations of the hardest hit, also from the POS machine.

According to the 21st Century Economic report reporter understand, "The code" and China UnionPay implementation of the NDRC pricing mechanism. Most card organizations abroad only apply two rates, debit and credit card rates. At home, according to the industry division of different rates, according to China's bank card collection fee standard, the merchant is divided into meal entertainment, general, people's livelihood, public welfare four categories, the first three types of handling fees are the transaction amount of 1.25%, 0.78%, 0.38%, the public-class merchants only charge the service cost price. The fee income is assigned to the issuing bank, the receiving institution (third party payment institution or bank) and the liquidation institution China UnionPay According to the 7:2:1 ratio.

The so-called "code", that is, merchants through various means to change the industry information to achieve the purpose of paying low rates, and in this process, because of interest, the whole chain of links are involved.

The senior executives who worked in third-party payments agencies said that most of the current Third-party payment agencies used the agency, that is, through the various regional agents for sales and merchant maintenance. And for the agents, the more they access to the merchant, the larger the volume, from the Third-party payment agencies to get more splitting, coupled with more and more competition in the industry, agents in order to Dora merchants, will certainly unscrupulous.

Agents are motivated by interest and are very willing to cooperate with the merchant to carry out trade category changes, or even counterfeit merchant business information. And as a third-party payment agencies, it is difficult to control the agents in various regions, only to take afterwards sampling.

These close to the world's people said that the world is currently using a set of Agent management system, first by the agents around the merchant data upload, and then to pay the world audit, once found that the transaction behavior anomaly, it will immediately review. For example, he said, for example, a beauty salon, trading volume may only be thousands of yuan a day, but suddenly there are tens of thousands of yuan transactions, there may be a problem.

He said that at present the entire ecological deterioration, industry competition is too fierce, if you give the merchant's rate and other home, for already have a POS machine merchant, he why use your home, so can only through the rate concessions to rob the merchant.

Transition

What is the future of the affected third party payment industry?

Reviewing the history of third party payment development, the current form of the consumer model, represented by Alipay, Tenpay, and the business-to-business model, which is typical of fast money and the world, is also called an independent third party payment institution.

Alipay and Tenpay backed Ali, Tencent continued to extend its business, and lost the right to preempt the user of the best window of the third party's independent third-party payment agencies are also trying to upgrade, focusing on the development of online payments and internet finance. Fast Money began to enter the Cross-border renminbi settlement business this year, while implementing payment overlay marketing strategy.

Fast Money company related to the person in charge of the 21st century Economic report, said in an interview, "payment will no longer only bear the original single payment function, but can be with financial management, financial services, marketing management and other types of application scenarios superimposed, so that the effect of payment to be extended." The superposition of payments will also become the most important development trend in the 2.0 era. ”

Remit the world beginning last year also gradual transformation, successively set up the remittance to pay the data, remit to pay finance and remit to pay the technology and so on three subsidiaries. It is understood that the remittance data company is mainly responsible for online payment, offline billing and Peer-to-peer account hosting business, remittance finance is responsible for financial management business, remittance technology is responsible for the client to build systems and other business. The world said that its newly increased Peer-to-peer account hosting business, as of July this year, has more than 200 Peer-to-peer platform access.

The above executives, who worked in third-party payments agencies, said independent third-party payments agencies rely on traditional offline receipts and simple online payments have lacked the space to imagine, and must build more and more solid business models, only so that the single business will not be limited to the company's overall business caused by a fatal impact.

But there is no doubt that the major third-party payment agencies will not give up the receipt business, so faced with the overall ecological deterioration of the industry, the relevant state departments are also preparing for the relevant policy adjustments.

According to recent media reports, the central bank is organizing forces to study the pricing of bank card charges. Previously, there have been three pricing, for the first time, the central bank has established 2% and 1% rates for distinguishing between merchant categories (different categories, different card processing rates); After the establishment of UnionPay, the central bank fixed the income of issuers and transfer clearing institutions, liberalized the receipts agencies and made differential pricing for merchant categories, Also caused by the industry after a large area of "code" chaos, the third is 2003, the NDRC-led, reducing the rate of card handling fees.