UnionPay Amnesty Third party payment: The name is the norm for the benefit

to non-gold

"Funnel effect" shakes monopoly interest?

In the four session of the Board held last month, UnionPay proposed the bill on further standardizing the trade of non-financial payment institutions to maintain the interests of member banks and UnionPay:

-Since September, the member banks have ceased to open new payment interface for UnionPay cards to the non-gold institutions, and no new cards are added to the stock interface, such as debit card, transfer, etc.

-Before the end of the year, non-gold institutions under the line of UnionPay card trading in a joint or direct mode point of access to the UnionPay network, commercial banks no longer retain its and non-gold institutions UnionPay card Line trading channel

-July 1, 2014, the realization of the non-gold institutions internet UnionPay Card trading full access to UnionPay

⊙ journalist Zhou Huan 0 editor Wu Zhengyi

UnionPay incorporated third party payments.

Shanghai newspaper yesterday learned from authoritative sources, China UnionPay is urging the member banks to unify the action, and gradually transfer the AU Union UnionPay card transactions to the UnionPay network, and for the first time explicitly proposed to achieve the goal of the timing node ――2014 years before July 1. A person familiar with the matter told reporters that China UnionPay had moved a motion at the four-term China UnionPay's six-time board meeting last month, and presented a detailed roadmap and timetable aimed at third-party payment companies.

"Amnesty" third party pay for UnionPay

The person told reporters that if the bill proposed at the Board of Directors on further standardizing the banking and unionpay interests of the non-financial payment institutions (hereinafter referred to as "the bill") can be realized, all the Third-party payment companies will be unified by the China UnionPay "incorporation" under the command, To achieve the absolute monopoly and control of the market of UnionPay.

In fact, this is not the first time UnionPay show "amnesty" meaning. In June of this year, the media disclosed that UnionPay's letter of cooperation on the regulation of UnionPay card business with non-financial payment institutions (17th), issued last December 19, sparked extensive discussion in the industry. However, the "motion" proposed by UnionPay's four-time board of Directors, held from July 24 to 25th, not only perpetuates the ideas raised in article 17th, but also enriches the details.

The motion proposes, "before December 31, 2013, comprehensively completes the non-gold organization line UnionPay card transaction business migration, unified sends UnionPay to connect, the synchronization standard Internet UnionPay card payment business." ";" Before July 1, 2014, the implementation of the non-gold institutions internet UnionPay card transactions fully access to UnionPay. ”

Interestingly, the motion also deliberately summed up the reasons for the failure of similar operations, "a non-gold institution in the commercial banks involved in the internal business line more, the private prosecution for different, commercial banks did not form a joint effort;

In order to urge the major banks to work with UnionPay, the motion proposes to set up a special working group of Non-gold institutions jointly by UnionPay and member banks, and set up a convention with the member banks of the "UnionPay" and the directors of the Board, and regularly inform the progress of the parties and promote the concerted action of all ”

The motion also puts forward specific work steps for each stage, such as "September 2013 onwards, the member banks to stop to the AU to open the new Pay Card payment interface, the stock interface no longer new cards to take, transfer, on behalf of the authorized UnionPay card Business"; Before the end of 2013, Non-gold organization line UnionPay card trading in a joint or direct mode a little access to UnionPay network, commercial banks no longer retain its and non-gold institutions UnionPay card line trading channel.

The head of a third-party payment company said it was "a mouthful of breath" after seeing the bill. "UnionPay this is in the drastic step, according to this step-by-step implementation, the current market more than 200 third-party payment companies, either automatically into the embrace of UnionPay, or accept being ' out ' of the fate of the withdrawal." ”

According to the disclosure of UnionPay, there are more than 50 au institutions have access to the UnionPay network. But from the reporter's grasp of the situation, which does not occupy the mainstream status of "those companies."

The competing interests of "GB" and "hip-hop"

For the incorporation of Third-party payments, UnionPay's reasons given in the motion are: "Non-gold institutions through the direct union with commercial banks, a large number of illegal development of UnionPay card payment and other business, seriously damaging commercial banks and UnionPay commercial interests and brand equity."

Some of the AU institutions also rely on the Internet E-commerce master a large number of customer data, rapid infiltration into the financial sector, shaken the bank's ownership of customers, the traditional banking business gradually formed a big impact. ”

Not long ago, "2013 Lujiazui Forum" on, China UnionPay president Luode threw out the "GB and hip-hop" view, said the traditional financial jump is GB, very standard; Internet finance is the hip-hop dance, the freedom is very big, "both sides should fuse".

But the industry's view is less subtle. A person in the industry said that while UnionPay was "incorporated" in the name of the standard, the real reason lies in the interests, "the rise of third-party payments has shaken the monopoly interests of UnionPay".

It is reported that the main source of income of UnionPay is still channel costs. According to the central bank regulation, each card processing fee by the issuing bank, receipt line, UnionPay according to the "721" proportion. However, with the rapid rise of third-party payments, the current payment of the company's online business has mostly not take the UnionPay channel, the offline receipts business can also be directly linked to the bank, making the channel effect of UnionPay is overhead, the profit model suffered impact.

The head of the local branch of a joint-stock Commercial Bank said: "Third-party payments, bypassing UnionPay's banks, can prevent UnionPay from Maur in the middle, creating a ' funnel effect ' that is good for third-party payments agencies and banks, which can explain why banks are not responding positively to UnionPay's ' ban '. ”

The data disclosed by China UnionPay also illustrates the gap between the direct link and the rate after the adoption of UnionPay: In the payment business of UnionPay card, the actual rate paid by the AU institution to the main member bank is only 0.1%, which is much lower than the 0.3%-0.55% price level in the UnionPay network.

Another interesting detail in the motion is that UnionPay has less than 30 words of affirmative writing to third party payers: "It plays a role in promoting payment innovation".