Many banks have launched aggregate payment codes, what impact will it have on individuals and businesses?

Introduction: It is understood that WeChat Pay and Alipay personal payment codes will be prohibited from being used for commercial services. As soon as this news came out, it immediately aroused social attention. In response, many banks launched aggregation Payment code, what impact will this have on individuals and businesses?

1. Many banks launched aggregate payment codes

Last year, the central bank issued a notice on strengthening the management of payment acceptance terminals and related businesses, clarifying bank card acquiring and barcodes. The management requirements for payment terminals, including personal collection barcodes, must not be used for commercial collections. After this rule came out, some merchants still used personal collection codes, and many banking institutions also claimed to increase their own aggregation codes. It is understood that from March 1st, scan-code payment will usher in a new pattern. Merchants who use code tags or printed and encapsulated personal QR codes need to apply to the collection service agency to convert to commercial collection codes. , collection codes are mainly divided into two types: personal collection codes and merchant collection codes. Merchants using personal QR codes need to apply to the collection service agency to convert to commercial collection codes. If the merchant itself uses a commercial collection code will not be affected in any way.

2. What impact will it have on private individuals and businesses?

Recently, adjustments to personal payment codes are about to begin. Our country has a large population and huge liquidity. Since the emergence of WeChat and Alipay, part of the cash flow has been on personal WeChat and Alipay and has not been deposited in banks. This leads to a reduction in bank flow and the inability to effectively manage capital risks. However, the withdrawal of this management will have no impact on ordinary individuals. It is just that the static collection code of the merchant's personal will be converted into a merchant's collection code and subject to tax. For merchants For example, when the bank payment code actually arrives, a handling fee of 0.38 will be deducted. With WeChat and Alipay, points can be used to refund the handling fee. However, merchants cannot present their personal payment codes for customers to scan when doing business. For payment, for example, some self-employed people in shopping malls must change their personal payment code to a non-personal scanning code. For example, the QR code in your store can only be accepted locally and cannot be sent to others. If you are out of town, I scan it for you to prevent illegal transactions in online gambling games.

3. Summary

However, it is understood that there should not be a large number of individual users who need to transcode and the overall market charging space will increase. The central bank’s new rules are to improve The supervision of payment codes prevents crimes such as money laundering. Most individual merchants will not be affected in any way. Therefore, there is no so-called good news for aggregate payment service providers. In addition, the aggregate payment market itself has homogeneous services. Seriously, the competition is very fierce, so the impact may be limited.