The license plate makes the third party pay for the spring

Recently, the People's Bank of China issued the fourth instalment of Third-party payment licences, the list of enterprises including Suning Yi Bao, including 95 enterprises. In the fourth batch of licensed business types, there is even a "digital television payment" business.

At this point, most of the domestic professional payment enterprises and E-commerce giants attached to the payment agencies have been paid licences.

Previously, the industry had two concerns about third-party payments. One is the fear that the financial nature and efficiency of third-party payments weaken or threaten the survival of banks. The bank card Receipts business management method, which is closely related to the third party payment (hereinafter referred to as "the method of receipt management"), puts forward a higher threshold and stricter requirements for the payment institution's receipts, and regulates the bank's ability to cut off the possibility of business interworking under the line at any time.

The second is to worry about the gruel of licensing, the fear of obtaining a licence is far ahead of the gold, and the unlicensed aihongbianye, and even some of the hard work of the forerunners may be too concentrated on the size of the problem and so on are rejected. Now, the central bank's previous statement on the number of unclear restrictions is trustworthy, in my view, this is a very correct regulatory attitude, to avoid in this new industry to breed rent-seeking space and unfair competition.

If the access to the third party is very harsh and difficult to make, it is not willing to legally "incorporate" the paid enterprise that has already grown up; then, naturally, many payment companies and the payment agencies of E-commerce Enterprises will carry out "cardiopulmonary bypass".

Everyone knows that the rise of third-party payments stems from the booming e-commerce, and the popularity of E-commerce in China has made a contribution. Too much regulation, or overly fine-grained regulation, especially in other industries, which is often constrained by the number of admissions (rather than the threshold of corporate competence), creates considerable rent-seeking space.

Because strengthened regulation limits the way in which companies can profit, it makes it easier for people with connections and backgrounds to have access to business rights than other competitors, which in turn makes non-profit approvals and licences very valuable. If applied to the third party payment industry, the direct result is that the supply of payment services is less, worse, indirectly restrain or even stifle the further development of E-commerce.

For example, mobile payment field, if the license is not issued to operators, the bank and lack of technical strength in this area, then the corresponding facilities construction and technical support will not be able to carry out, this fast and efficient means will stay in the stage of the paper for a long time. For the large E-commerce enterprises such as Su Ning, if their own matching payment is not allowed, but must be outsourced to Alipay, the impact on its competitiveness will be very significant, after all, Alipay in its direct competitors Taobao's under the umbrella.

The right regulatory measures bring about a booming industry. In both Europe and the United States are mired in a difficult background, 4 trillion, "small 4 trillion", China again and again to launch large-scale investment, on the one hand stranded the global economy, on the other hand to maintain its own economic growth. But it is well known that investment pull is thirst to a considerable extent, and consumption is the way to recovery.

The smooth development of the license plate, which brings about the booming of the whole third party payment industry, can greatly promote the consumer's purchase input, it can be the digital expenditure of the traditional savings, or the credit card-type virtual currency application, and the latter is more valuable. E-commerce is a trans-space transaction beyond the traditional channel, while the third party payment is a matching cross time exchange. This exchange is in fact a simple and fast-moving consumer loan, equivalent to a micro-financial lease for private consumer goods.

A recent report on China's e-commerce development shows that the total amount of third party payments across the country amounted to 161 billion trillion yuan last year, and that the growth rate for 5 consecutive years exceeded 100%. The channel of electronic commerce has brought the increase of consumers ' interest, and in the electronic commerce transaction, Third-party payments of virtualized currencies further provide a quick means of consumption and enhance the liquidity of the currency. The combination of the two has led to a significant increase in private borrowing and consumption growth, thus stimulating the development and recovery of the real economy.

In the perspective of coping with the international financial crisis and the resulting domestic manufacturing crisis, third party payments, as a new and more liquid currency, are undoubtedly a more benign and harmless dose of "dose" than the "boom-and-bust" of investment-driven and fiscal expansion.