With the upcoming June issued a "settlement payment of management measures," the first batch of 10 to obtain the operating license of the third party payment vendors surface
Alipay, Tencent TenPay, paid links, quick, easy treasure UMPAY ... ... This is a series of names for the keen online shopping, consumer who is not strange. E-commerce in virtual control of these third-party vendors to pay the "economic lifeline."
The so-called "third party payment" refers to electronic commerce between companies and banks pay to build a neutral platform for online shopping channels and providing funds transfer services to manufacturers. With the growth of online shopping population, a third-party payment has become an increasingly crowded industry, domestic manufacturers have been more than 50 third-party payment.
According to incomplete statistics, nearly 3 years, third-party payment in China is growing 30% a year. In 2006, after dozens of companies "handle" the scale of funds has more than 300 billion yuan, and the history of Shanxi Ticket Number "Huitong world" vision, the somewhat bore a striking resemblance.
However, from the second half of 2006 to the present, third-party payment companies are closely watching the Bank of China issued the license information. License for these companies is tantamount to death verdict, unlicensed vendors will be forced out.
"Financial Times" exclusively learned that the license go hand in hand with regulatory laws and regulations "liquidation payment management approach" ("the" approach "") will be formally introduced in June, the central bank has already delineated the issue of licenses to 10 manufacturers, both of which have a long-established larger enterprises, but also just approved the new company is still in preparation.
There is no doubt that the central bank after the introduction of licensing system, vendors will survive this huge divide the market of electronic payment. Experts believe that the central bank will directly result in the issuance of a license third-party payment market in China the formation of competition, and produced a strong vibration of the market.
Regulation and supervision
In October 2005, the central bank first announced the "payment and settlement organization and management approach (draft)", after two years, "approach" the content was modified several times.
"After the draft was revised several times the overall outlook has not changed, modified mainly in some of the details, such as the barriers to entry and business scope, the biggest change is the threshold and the ratio of foreign capital restrictions." An invited comments will be involved in the company to the "Financial Times" said, "capital threshold is divided into national, regional and local third gear, respectively, corresponding to the minimum limit is 1 billion, 50 million yuan and 1,000 yuan, the proportion of foreign equity participation shall not exceed 50%. "
Chinese Academy of Social Sciences Institute of Financial Markets Financial Research Office Cao Honghui, the central bank's move intended to reduce foreign investment impact on the domestic financial services.
In fact, more than 50 third-party payment of domestic enterprises, 90% are foreign background. And 50% of the foreign investment limit will directly affect the fate of the license, and the scale of foreign investment, some enterprises may be forced to withdraw from the market due to funding strand breaks predicament.
In addition, given the current trading platform for all third-party network exists over the scope of business, or beyond the current scope of legal and operational framework of the licensing issue of illegal operation, "measures" on the scope of third-party payments business are also strict restrictions.
For example, the largest third-party payment platform - Taobao's payment Po, its name, business scope, trading rules and financial institutions have avoided the concept of banking services, but the transactions of view, at least it provides functionality including the generation of receivables, loans, refunds, queries, security, etc., a financial services function.
Therefore, the central bank in the "measures" against third-party payments business, systems, and annual reporting mechanisms are detailed and strict requirements for major issues must be resumed within 4 hours, 24 hours up communications, and calling for corporations to issue the central bank recognized third-party data, technology security certification and regular audit, failed business license will be canceled.
Competing license
"At present the central bank has delineated the 10 manufacturers to issue licenses." Central bank official to the "Financial Times" confirmed the first number of the license. "These 10 vendors both to be expected, there are unexpected." But on the specific company name, the official has declined.
However, breakdown of domestic third-party payments vendors, operating from their current status quo is not difficult to find some clues: pay is the C2C (online trading platform, can choose to bid on goods) field boss; linkage advantage SmartPay impressive in the field of mobile payments; Tencent General Finance to pay a dominant role in the micro-payment; PayPal will be more advanced in the international payments. This pattern is not a license to the upcoming release more suspense.
As for the "unexpected" business, "Financial Times", after multiple interviews that the central bank, or will it just be granted a license to set up third party payment companies, "the preparation of this company is currently opened process, the company's executives work with perennial experience in the commercial banks, the central bank may rely on the future of electronic banking platform, which implements the integration of micro-payment system. "
Reshuffle soon
Can be expected, once the central bank issued the license, the "survival" of the vendor will split the huge market of electronic payment. This will directly lead to the electronic payment industry, a new round of reshuffling, and produced a strong vibration of the market. Well, most of the unlicensed vendors will go from here?
"Did not get the license does not mean that the existence of a breach on the Enterprise," "Financial Times" call the central bank payment and settlement Secretary, an official explained, "the central bank after another will be the second and third batch of licenses issued . The company has not obtain a license, compared to the survival of certain great pressure to bear. "
It is understood that the uncertainty of license issuance have been paid to third-party vendors into a collective state of anxious. "This time, we are running the license for the electronic payment, the amount from the increased registered capital to submit application materials. If places have been identified only 10, I estimate their own with no chance." A person responsible for third party payment companies in several days before the bank electronic payment forum position.
Currently, the electronic payment industry has entered a period of adjustment, acquisition and merger is inevitable result. "On the one hand is the merger between the third-party payments vendors, strong mergers and acquisitions resulting in weak corporate giants, for different target groups of e-business merger between; the other hand, mergers and acquisitions may also have the traditional lead e-business participation. "the official said.
Payment and Settlement Division of the Central Bank officials said the company did not obtain a license need not pessimistic, you can switch to customer data analysis, resource survey and other related consulting services.
According to relevant policies and regulations, foreign banks in July 1, 2007 will enter the card business of Bank of China, which will cover the development of domestic third party to provide new channels of cooperation.
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