Recently, the Payment Department and Settlement Bank of the People's Republic of China issued a "Notice to the Paying Agency Notice & # 39; Withdrawal Account of RMB Client Reserve", which stipulates that the payment institution shall cancel fund account & # 39; reserve RMB customer before 14 & # 39; in January 2019. The fund & # 39; reserve refers to funds that are traded after the client advertisers, namely payment by the customer payment institution, ie the funds deposited in the account of the payment institution.
The fact that there was no centralized deposit & # 39; depth & # 39; reserve, was fully implemented in & # 39; in January 2019. The central bank ended the payment mechanism where the payment institution relied on the deposit & # 39; & # 39 funds; reserve to earn customer & # 39; interest in & # 39; less than two years.
Liu Gang, founder of China Payments Network, stated that the reporter of & # 39; China Business Journal states that there are two important influences on the repeal of the fund account & # 39; reserve. First of all, the days when the payment institution depends on supply & # 39; interest on the fund & # 39; reservations are completely, especially the basic dependence of the prepaid card company. Company existing payment & # 39; interest will face closure. Second, the payment institution can not remain & # 39; negotiate with the bank for the preferential rate with depth & # 39; reserve. This means that cooperation between the payment and the bank company is more pure and can & # 39; leading to higher rates.
Yan Xiangtao, the commentator of the encyclopedia fee, also stated that the impact of the withdrawal of the customer reserve account RMB payment institution can & # 39; even affect users in future, and user withdrawal fee you & # 39; increase further.
Company prepaid cards will continue to decrease
The centralized depository of the fund & # 39; reserve is one of the main points of the "& # 39 Plan Implementation for Risk remedy & # 39; institutions & # 39; Payment Non-Banks" announced in & # 39; in October 2016. at that time, the program was indicated by & # 39; clearly that "the establishment of & # 39; centralized system & # 39; pay and & # 39; management & # 39; deposits for customers & # 39; institutions & # 39; payment "" eliminated b & # 39; gradual way interest charges on payment of the fund & # 39; customer reserve and reduced deep -depożitu the fund & # 39; customer reserve ".
Since April 17, 2017, the payment institution shall deposit the fund & # 39; customer reserve account of the special deposit institution designated by a certain ratio, and the average ratio & # 39 ; deposit is & # 39; about 20%. The deposit ratio will increase from about 20% to about 50%; f & # 39; June 2018, the central bank issued a notice stipulating that 100% deposit will be carried out by 14 & # 39; January 2019.
The provision & # 39; such a large amount of & # 39; attention can & # 39; is inseparable from black history & # 39; some companies & # 39; & # 39 payment; third parties. Changbu Take Shanghai as an example. F & # 39; July 2014, Shanghai was granted license & # 39; payment. After only four & # 39; month & # 39; operation, was found by & # 39; fictitious merchant transactions, accounting of household bills, virtual expenses and provision for use of & # 39; day. Expenditure and dividends & # 39; shareholders are subjectively misappropriated b & # 39; malicious way. Since then, individual businessmen disseminate information, and customers' rights have been violated by & # 39; seriously, and cause accidents & # 39; group.
Similar events are not appropriate. Xiangtao Qi said that this is caused by the fact that the original model could not monitor b & # 39; effectively the flow of & # 39; & # 39 funds; reserve. The depositary requirement of fund & # 39; institution's reserve & # 39; original payment requires the fund & # 39; of the payment institution placed in reserve fund depositary bank & # 39; reservation and payment institution can & # 39; go to another. bank deposits, fund & # 39; custodian banks reserve shall supervise the fund & # 39; customer reserve, but it is difficult for banks to check whether the flow of funds is initiated by customers themselves, especially the prepaid card business. Occurrence of & # 39; group occurred in prepaid card institution, and a host & # 39; payment institutions were delist, which also prompted the central bank strengthen supervision over provision.
Since last year, the tickets "eat" and cancellation of licenses have become the norm in the payment industry & # 39; third parties. F & # 39; terms & # 39; licenses, the central bank now delete 33 license & # 39; 238 payment and paid license. Of the 33 institutions that were canceled for the fee, 32 were prepaid card institutions. And such payment Blue Sky, Shanghai Qianyue, etc. She initiative folding.
Depending on the type of & # 39; business, the payment license issued by the central bank are divided into & # 39; seven & # 39; types, ie & # 39; prepaid card acceptance, issue & # 39; prepaid card, a mobile phone payment, payment on the internet, fixed telephone fee.
According to the & # 39; research report on the development of & # 39; institution & # 39; prepaid cards issued by China Association for Payment Clearing and f & # 39; August 2017, the prepaid card institution is the largest institution & # 39; non-bank payment the most important and the most difficult one to develop after the regulatory constraints in & # 39; in recent years. One type of & # 39; institution.
In view & # 39; Liu Gang, one of the reasons for the company's initiative & # 39; payment above to pierce the card is the amount of & # 39; gold in prepaid license reduced, and the retirement fund account & # 39; reserve payment institution is even worse for the prepaid card company. According to Liu Gang, more than half of the 238 institution & # 39; existing payment card companies are prepaid. In the future, the number of & # 39; prepaid card companies will be further reduced.
future fees will rise a & # 39; withdrawal from users
The end of & # 39; era & # 39; behavior & # 39; interest, in addition to causing damage to the prepaid company, on the other hand, the effect is that the institution & # 39; payment can not negotiate with the bank for more preferential rate with the reserve requirement.
Previously, in accordance with the requirements of the People's Bank of China, the payment institution deposited the fund & # 39; client in a special reserve account commercial bank. Xiangtao Qi pointed out that since the fund & # 39; customer reserve is deposited in the bank & # 39; name of a payment institution, is a substantial deposit to the bank. To ensure the deposit of the fund & # 39; reserve, the bank gives the paying agency discount rate. The payment institution can & # 39; use the deposit & # 39; reserve, a chip & # 39; remittance to negotiate with the bank for quick payment, and maintenance. And users actually enjoy low rates.
"Now, the original model m & # 39; still, the fund & # 39; reserve accrue to the central bank, and power & # 39; negotiation of the payment institution and bank m & # 39; longer. If the bank wants to increase the rate and increase revenues, are not in & # 39; able to speak with the bank, and small organizations and & # 39; sized m & # 39; to no power & # 39; bargaining. "Yan said Xiangtao.
In fact, the recent incident & # 39; "Tricks" payment of & # 39; WeChat and Minsheng Bank could & # 39; became the beginning of & # 39; rising rates. F & # 39; this incident, the funds were transferred from WeChat wallet for Minsheng Bank Card (commonly known as withdrawal & # 39; cash). Having topped the free quota, WeChat will charge an administrative fee of 0.15%, which increased by & # 39; 0.05% and 1% are other bank cards. In view & # 39; Xiangtao Qi, the two institutions is market conduct behavior. After the bank can not & # 39; acquire rights & # 39; future deposit, will inevitably increase the transaction rate & # 39; payment. Interests & # 39; the user can not be guaranteed.
Insiders of & # 39; & # 39 institution; charge said the deposits were deposited with the central bank and payment institutions lose interest income and the rising cost of bank fees actually lead to some pressure on the payment.
Xiangtao Qi also said that the current conflict between banks and payment institutions has not espandiex, and therefore does not affect users. Now the payment institutions and banks are still at the stage of mutual testing, and if future rate increases will depend on the attitude of the bank. "However, banks m & # 39; should enjoy to raise prices together. After all, no one is willing to draw the hatred & # 39; users."
As regards the scope of & # 39; increases in future rates, Liu Gang pointed out that currently appears that the payment institutions tend to withdraw charges when withdrawing their bank cards and f & # 39; in other cases still free. Although it is not easy to assess how the future rate will increase, it is certain that the payment institution monopolized constantly update its payment standards to ensure their own profit.
In addition, a number of & # 39; & # 39 institutions; payment said they would cancel the fund account & # 39; reserve as scheduled by the central bank, but does not affect the user's convenience and secure payment experience & # 39; quality.
(Editor: Guo Huaiyin)