Important notice from Alipay

Recently, Alipay issued a notice on regulating the access of payment service providers.

The notice states that in order to further implement regulatory compliance requirements, strengthen transaction management, ensure the authenticity, integrity and consistency of transaction information, and avoid unnecessary losses, the relevant business specifications are now reiterated as follows:

1. Service providers shall not lead, instigate, acquiesce, or assist merchants in changing payment product usage scenarios by modifying, packaging, or tampering with interfaces.

2. If the merchants served by the service provider do not access according to the product type, and there are irregularities such as low rates, cash out, marketing resources, etc., once verified, they will be handled in accordance with the service provider management system and other relevant regulations. In serious cases, the service may be suspended or canceled.

3. If a merchant engages in improper behavior such as tampering with transaction information, the service provider should promptly urge the merchant to make rectifications.

It is worth noting that on December 26 last year, the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange and other financial management departments jointly interviewed Ant Group and proposed five major rectification requirements. Among them, the rectification requirements involving the payment business field are to return to the origin of payment, improve transaction transparency, and strictly prohibit unfair competition.

Strict supervision of payment service providers is in progress

In recent years, with the rapid development of the payment industry, the aggregate payment service market has attracted many participants. The market scale is large and has already It has become an important part of the payment market. While promoting the rapid development of the payment market, it also brings certain risks due to low entry barriers and lack of unified management of practitioners. Some payment service providers engage in illegal activities such as subcontracting, subcontracting, engaging in cash-out and secondary clearance, and providing services for cross-border gambling and other merchants, which disrupts the order of the acquiring market.

In order to strengthen the standardized management of the acquiring outsourcing service market, in 2017, the People's Bank of China issued the "Guiding Opinions of the People's Bank of China on Continuously Improving the Standardization of Acquiring Service Levels and Promoting the Development of the Acquiring Service Market", which will " "Aggregation Payment" is positioned in acquiring outsourcing services, delineates the business "red line", and proposes four "nots": it is not allowed to engage in merchant qualification review, acceptance agreement signing, fund settlement, acquiring business transaction processing, risk monitoring, acceptance terminal (network Payment interface) master key generation and management, error and dispute handling and other core businesses; shall not handle the settlement funds of special merchants in any form, engage in or engage in disguised settlement of funds of special merchants; shall not forge, tamper with or conceal transaction information; shall not collect or retain Sensitive information of authorized merchants and consumers.

In August last year, the China Payment and Clearing Association issued the "Measures for the Registration and Management of Acquiring Outsourcing Service Institutions (Trial)" covering the definition, scope, conditions for filing, filing workflow and cancellation of acquiring outsourcing service institutions. Filing status and other contents.

In October of the same year, the China Payment and Clearing Association issued the "Registration and Risk Information Sharing Measures for Acquiring Outsourcing Service Institutions" to further standardize the order of the acquiring outsourcing service market and improve the self-discipline management system of the acquiring outsourcing service market. . The Measures point out that in the event of situations such as falsifying merchant information, colluding with merchants to engage in cash-out fraud, etc., the system will automatically include the corresponding outsourcing agency in the blacklist management, and the acquiring agency shall not interact with the outsourcing agency on the blacklist. Institutions and outsourcing agencies for which relevant individuals serve as legal persons or responsible persons; if cooperation has already been carried out, the cooperation shall be terminated in an orderly manner within 90 calendar days from the date the outsourcing agency is included in the blacklist, on the premise of ensuring the continuity of merchant services. , and update the cooperation status in the system in a timely manner. This means that acquiring outsourcing institutions that enter the "blacklist" will be severely punished and will have difficulty gaining a foothold in the payment market in the future.

Analysts believe that for acquiring outsourcing institutions, compliance operation is the most basic requirement and is also the basic strategy to deal with the "deep reshuffle". On the basis of compliant operations, optimizing their own products and services, strengthening technology output capabilities, expanding payment scenarios and more value-added services are the magic weapons for acquiring outsourcing institutions to win in the face of "deep reshuffle".

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