The UnionPay Business Management Committee Secretariat recently issued a notice of rectification within a time limit for the offline POS acquiring market, “Notice on Further Clarifying the Relevant Requirements for Violation of Regulations and Restructuringâ€, requiring the offline pos acquiring institution to bypass the UnionPay directly connected bank. The illegal transfer behavior was transferred to the UnionPay network, and it was explicitly requested that at least 90% of all round-trip UnionPay transfer transactions should be completed as of December 24, and all migration work should be completed by December 31.
This notice clearly states the progress of the third-party payment around the UnionPay business at all stages, and requires that at least 50% of the transfer of the UnionPay transfer transaction volume be completed on November 30, not less than 65% on December 10, December 17 The date is not less than 80%, and all the migration work is completed on December 31.
According to a person from the UnionPay Industry Council, Caixin reporters said that the 37 acquirers were all serious violations of UnionPay in the past, including UnionPay's subsidiary UnionPay, which was also within the scope of this rectification.
Previously, in the first half of this year, the UnionPay Management Committee’s violation of the bank card acceptance market was the fifth. The number of restrictions imposed by UnionPay’s business was ranked fifth. The top four were Quick Money, Remittance World, Epro, and Lok Fu. "The penalty rankings of several third-party payment agencies with large transaction volume are basically taking turns to make Zhuang." Industry insiders confirmed this.
The above-mentioned UnionPay people stressed that the illegal transfer of online network around UnionPay is not within the scope of this rectification. "The main target is still the illegal code set of the offline acquiring market. It has already communicated well with these 37 institutions. Because the transfer business includes technical preparation, staff preparation, and direct bank communication with UnionPay, a process is needed."
At present, the top 20 third-party institutions with market share account for about 90% of the total payment market share, and these 20 organizations try their best to bypass the UnionPay Direct Bank. The transaction volume of UnionPay is very obvious.
In the view of a third-party acquirer, the impact of the UnionPay initiative on the industry is not as big as the outside world thinks. "UnionPay as a card organization to constrain market members is the norm. Every month, there will be constraints on the settlement of the code, the UnionPay and other violations; only in the context of the current liquidation market will be open to the outside world, this time the intensity is even greater, the Union Link is really Gee."
For the outside world to question the behavior of UnionPay to restrict non-Gold institutions is "the role is misplaced, the business is offside," said Chen Qizhang, president of the China Global Payments Corporation (FDC). "In fact, this belongs to the card organization's normal regulation of the bank card industry. In the payment market, the card organization imposes a heavy fine on violations, and can even cancel the license of the acquirer. The cost of risk taking the acquirer is very high."
Rectification scope
Arbitrage through "sets" is the most common violation of offline acquirers. “Setting Code†is a violation of the merchant category code (MCC) of the low-rate industry. Different MCC codes represent different industries, and the card processing fee rates are different. According to the newly revised rate regulations of the “No. 66 Document†of the National Development and Reform Commission on February 25, 2013, “5812†represents a restaurant with a handling rate of 1.25%; “5311†represents a department store with a handling rate of 0.78%; “5411†represents In the supermarket, the handling rate is 0.38%, the business of the three rural areas is lower, and the lowest level is only 0.25%.
The business scope of the rectification includes: illegal application of MCC code, transfer of transactions in accordance with member institution rules, and other violations, and requires real reporting of existing stock merchants, merchant POS terminal key non-acquisition agency allocation, management, etc.
The rectification notice also proposed a more detailed reporting requirement. The connected bank information should be refined to the branch line, and the daily average transaction volume, card issuance or acquiring interface and the bank's counterpart department should be indicated, and on November 13 The report was completed on the day of the day.
The acquiring institution will complete the rectification of the violations according to the network access agreement and related business rules, and report the improvement every two weeks. If the information is not completed or reported incomplete, untrue or irregular, it will be regarded as a violation of the commitment. The UnionPay Secretariat will Cancel the rectification period and restrict all violations as usual.
A UnionPay expert believes that third-party payment institutions are directly connected to banks, and this model also has a higher risk. Since it did not comply with the price mechanism of the No. 66 Document of the National Development and Reform Commission, it caused a two-track system, one was the price of the direct bank, and the other was the price of connecting UnionPay. Two security standards and two modes of operation are derived.
In UnionPay's payment and settlement network, UnionPay has a special risk department to monitor; in the mode of non-gold institutions direct bank, the bank can not get the real information of the cardholder, and can not monitor the authenticity of the cardholder's consumption behavior. In the event of a dispute, the cardholder’s funds are not guaranteed.
Online transfer is not constrained
The general constraint scope of UnionPay as a card organization is limited to the offline pos acquiring market, and the penalty amount is also discounted. The violation of the online online payment of illegally transferred UnionPay identification card has not been included in the scope of restrictions. Both VISA and MasterCard charge brand fees for transactions that are not transferred. For example, if you follow the rules of the international clearing market and the intellectual property protection system, online payment institutions such as Alipay that transfer UnionPay logo cards should also pay the brand to UnionPay. fee.
In fact, at present, third-party payment companies such as Alipay and Fortune have provided payment interfaces for merchants and consumers, and realized that various bank cards that “swipe†UnionPay logos are consumed online, playing the role of “Online UnionPayâ€; UnionPay authorized, that is, did not pay the intellectual property fee of UnionPay brand.
Previously, the decision of the State Council executive meeting held on October 29th required the release of the bank card clearing market. Eligible domestic and foreign-funded enterprises could apply for the establishment of a bank card clearing institution in China. This means that China can create a second or even a third UnionPay, which may break the domestic cross-bank transaction clearing market monopolized by UnionPay. Alipay is also considered to be the most potential competitor of UnionPay.
At the end of June 2013, the central bank continuously abolished or canceled five networked general documents to promote all market-oriented operations of UnionPay, facing internal and external pressures. In this context, UnionPay is also trying to withdraw from the role of referees. The national standards are organized by the central bank. It is determined that the industry standard is led by the Payment and Clearing Association and attempts to establish a market-based profit model.
Prior to the interview with Caixin reporter, the president of UnionPay said that UnionPay faced “secondary entrepreneurship†and would “retire to the standard of a company and not to do things that do not conform to the attributes of the company. The card organizes the brand rights and interests, and UnionPay must defend its rights." (Original please see Caixin "New Century" Weekly 2014 36th cover report "Third-party payment reshaping interest pattern")
For the internal and external problems faced by UnionPay, in the view of UnionPay, once the RMB clearing market is opened to international card organizations, it is not worried about the loss of non-Gold institutions of the existing UnionPay payment network, and turns to the embrace of international card organizations such as Visa and Master. According to the rules of the game in the international clearing market, international card organizations have wider restrictions on the network access institutions, and they will not bargain, and the punishment will be increased."
The aforementioned UnionPay analysts said that if the future pricing mechanism is no longer regulated by industry, but is adjusted to unified pricing, lending and lending, there is no longer a violation of the set of codes, UnionPay's binding methods will be adjusted accordingly, mainly based on the acquisition management method Article 25 restricts the authenticity and integrity of the information of the acquirer merchants. â–
This may be the last wave of large-scale rectification initiated by UnionPay in 2014. It is no different from the bottom-up of some pos institutions! With the advancement of the rectification work, a new wave of sealing machines or a large increase in the rate has become inevitable. The company believes that POS agents should stop or operate low-rate POS machines as much as possible.
The UnionPay Business Management Committee Secretariat recently issued a deadline for rectification notices for 37 offline POS acquiring markets - "Notice on Further Clarifying the Relevant Requirements for Violation of Regulations", requiring offline POS acquirers to directly connect them to UnionPay The bank's illegal transfer behavior was transferred to the UnionPay network, and it was clearly required to complete at least 90% of all round-trip UnionPay transfer transactions as of December 24, and complete all migration work by December 31.
This notice clearly states the progress of the third-party payment around the UnionPay business at all stages, and requires that at least 50% of the transfer of the UnionPay transfer transaction volume be completed on November 30, not less than 65% on December 10, December 17 The date is not less than 80%, and all the migration work is completed on December 31.
According to a person from the UnionPay Industry Council, Caixin reporters said that the 37 acquirers were all serious violations of UnionPay in the past, including UnionPay's subsidiary UnionPay, which was also within the scope of this rectification.
ABLE Birch Log Sets, made of light ceramic raw materials or cement materials, light weight but strong not easy to break, hand-painted, natural colors and amazing details & realistic shapes, easy turn redness in the fire, can enhance the fireplace flame, all made of inorganic materials, odorless, fire-resistant temperature >900℃, product can be used for a long time, with reasonable price.
ABLE also have advanced molding technology for ceramic log called cast log, it is lighter, stronger, fuller details, and glowing area is larger in the fire.ABLE can supply many kind of log accessories for fireplace, such as pebbles, coals, charcoals, pine cones, maple leaves, aglow ember, top-grade rock wool, stained vermiculite, small coal chips, barks, balls and hollow ball, ceramic pitted pebble and rough Lava rock that won't burst in outdoor fire pit, Pumpkin lamp, Skull and bone for Halloween Decor fire, fireplace log grate etc.
ABLE factory is located in Yixing City, Jiangsu. It is a well-known production base for fire resistant insulation materials and environmental protection products. Yixing is also a city has developed commerce and convenient transportation. Our company sincerely hopes to cooperate with professional customers, and welcome to visit our factory!
Birch Log Sets,Charred Mountain Birch,Ceramic Birch Logs,Birch Gas Logs For Fireplace
Yixing Able Ceramic Fibre Products Co., Ltd , https://www.ablegaslogs.com