About the heavy regulatory regulations of the payment institution are released.
On January 20, the central bank official website announced the "Non-bank payment institution regulations (Draft for Comment)" (hereinafter referred to as "Regulations").
The "Regulations", 75, the first to pay the field of anti-monopoly supervision measures, clearly define the relevant market and market dominance status, and increase the organization of agency for licensed institutions to operate payment services for unlicensed business. Business channel The punishment of behavior. The "bottom line" with the rapid development of the payment service market, the innovation is endless, the risk is complex, and the institutional exits and disposal faces new requirements. The "Ordinance" issued this time is based on this background. Born. Beijing Business Daily reported that in accordance with the principle of "first admission" principle, the "Regulations" systemically strengthened the company’s governance requirements, from the establishment, change and termination of the organization, implement all-round, full process supervision.
First, for the capital strength requirements, the Regulations clarify the entry threshold: Non-bank payment agencies have a minimum of $ 100 million.
The central bank will determine the minimum amount of registered capital of non-bank payment agencies in the stored value account operations and payment transaction processing business, respectively, according to the prudent supervision principles, and the proportional requirements of registered capital and business scale. And the shareholders of non-bank payment institutions should be funded by their own funds, and may not be funded by non-funded funds, debt funds.
At the same time, the "Regulations" add negative list of unparalleled orders through a front list, which has clarified the conditions of shareholders, actual controllers and ultimate beneficiaries, and strengthen the supervision of shareholders’ qualifications, actual controllers and end beneficiaries. Among them, in the case of major shareholders, controlling shareholders and actual controllers, the same legal persons must not hold two and more non-bank payment agencies, and the same actual controller shall not control two and more non-bank payments. mechanism. And this also means that in the case of a payment license, follow the new rules, follow-up will not be able to acquire another payment license.
Senior expert in the financial science and technology industry pointed out that "this" Regulations "will put higher demands on giants to acquire third-party payment licenses, because there is no way to make up the short board by acquiring more quantity payment licenses, expect future giants At the time of choosing the acquisition, it will highly pay attention to the core factors such as the scope of the exhibition industry and the region of the exhibition industry. " It is worth paying attention to this "Regulations" clarified a series of provisions on the new institutions, including the construction of application materials, preparation approval, preparation time limit, opening application materials, opening approval, etc., this is also Introducing the conjecture in the industry, is there a new payment agency, is it expected to re-open? In fact, since 2015, the central bank strictly controls the market access of payment agencies, so many institutions have obtained third-party payment licenses through M & A. Zero Research Institute demonstrated that after the implementation of the regulatory approach, the approval of non-silver payment licenses or is expected to re-brake, which is more favorable for the institutions that I hope to enter the market, and it is also good for market agencies. compete. Strengthening the anti-monopoly supervision of the "Regulations" is the most rapid market concern is the anti-monopoly supervision. Beijing Business Daily reported that the "Regulations" mentioned the "Regulations on Supervision Measures", Article 55. If a non-bank payment institution has reached 1/3, or two market share of non-bank payment service market, or two Non-bank payment institutions reached 1/2 in the non-bank payment service market, or three non-bank payment institutions reached 3/5 in the non-bank payment service market, as long as they involved one of the aforementioned circumstances, the central bank can The anti-monopoly law enforcement agency of the State Council will warmet it.
At the same time, the "Regulations" have focused on the market dominance, including: a non-bank payment institution has reached 1/2 in the national electronic payment market; the market share of two non-bank payment institutions in the national electronic payment market The total reached 2/3; three non-bank payment institutions reached 3/4 in the national electronic payment market. According to the "Regulations", the payment institution has not followed the principle of safety, efficiency, integrity and fair competition. It has seriously affects the healthy development of the payment service market. The central bank can reverse the law enforcement agencies to the State Council, adopt stop abuse market dominance, stop implementation, Split a non-bank payment institution according to the payment service type. "This impact on non-silver payment market will be very large.
Because of the current non-bank payment market, the market share of the heads of the heads has exceeded 2/3 standard lines of regulatory requirements. "Senior researcher, Suning Financial Research, told Beijing Business Daily reporters, from the national electronic payment area, Alipay, WeChat payment market share will further decrease, as for if it exceeds the standard, only after further understanding of specific data, can be defined whether or not Reach the supervision red line.
At the same time, although it is considered to have a market dominance, it does not necessarily trigger relevant regulatory measures because of a premise that the organization uses market dominance to seriously affect the health development of the market, and there will be relevant regulatory measures. Therefore, how this piece is defined and needs to be clarified. As far as it pointed out that according to third-party statistics, the two giants payded in the current mobile payment market, Alipay and WeChat payment, 80% share. According to the latest "Regulations", it is likely to trigger the provisions of the market domination status. Previously, the supervisor had conducted an appointment of ant groups in December 2020, which involved payment business, requiring return to paying the source, enhancing transaction transparency, and strictly forbidden to compete.
It is believed that in the transition period, Alipay and WeChat payment will be rectified according to the new regulatory measures, and may even be split according to the type of payment service to achieve compliance requirements.
However, there is a media report that a person close to regulatory is pointed out that the market in the Regulations is the national electronic payment market, including electronic payment market, including bank card payment, rather than usual barcode payments market.
According to this market, no matter Alipay, TenPay, or UnionPay, there is no 1/3 of the market share. In other words, in accordance with the "Regulations", there is no institution in the market to constitute monopoly, which is also a practical practice.
It is foreseeable that future payment market patterns will have a certain change.
As Huang Dabo said that the current payment industry is an extremely concentrated market, strengthening anti-monopoly, other small and medium payment agencies on the market will constitute a major advantage. Because the standard lines are exceeded, the institutions either split or make the original market share, and these payment shares will undeterminate to other payment institutions. Loss "Excess" will be called apart from anti-monopoly supervision, the "Regulations" further clarified the institutional legal responsibility. It is mentioned that clear payment agencies have exited the situation, increase the punishment of payment institution violations and illegal personnel; clearly deal with the relevant regulations of unlicensed business payment services, and increase the pair The agency that the licensee provides an unlicensed business payment business provides a punishment of payment business channel behavior. In the case of prudential supervision measures, "Regulations" proposed that if the payment institution exceeds 50% of its registered capital; or the date of the seized license, the business is not substantially carried out, or some or all of the licensed or all payments The business continuously stops more than 2 years; the results of 2 consecutive annual classification rating are the lowest level; or there is a case where there is a great adverse effect on the stability operation of the payment service market.
The central bank can suspend its part or all payment services according to the prudential regulatory principles until it is revoked its payment business license.
In addition, the responsibility of violating the payment account is clear. Non-bank payment institutions have not established a sound payment account management system, not fulfilling due diligence, providing convenience for illegal activities, the central bank and its branches ordered their limited correction, confiscation of illegal income, and illegal income of 100,000 yuan, Legal income is more than 5 times or less; no illegal income or illegal income is less than 100,000 yuan, a fine of less than 100,000 yuan or more or more yuan; constitute a crime, criminal responsibility shall be investigated according to law. However, the "Regulations" also set a reasonable transition period.
That is, the non-bank payment institution that has been obtained before the implementation of the business license shall meet the conditions specified in this Regulations within one year from the date of implementation of this Regulations. If the provisions of this Regulations are still not met, the central bank is suspended by the Cultural Regulatory Principles; refusing to stop business or have other circumstances, the central bank revokes its payment business licenses.
In Huang Dabao, increase the violation of the payment institution will lay a better institutional foundation and legal basis for the development of the entire payment industry. (Editor: Li Yilin (intern), Li Dong) Share let more people see the recommended reading.