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Our reporter Li Bing
Another payment institution "left". A few days ago, Shanghai Shenxin Electronic Payment Co., Ltd. (hereinafter referred to as "Shenxin Payment"), a third party payment institution, announced the suspension of trading business, becoming the fourth payment institution to publicly check the "departure" within the year. The reporter noticed that the agency's payment license is currently valid until June 2027, that is to say, Shenxin Payment chose to "leave" before the payment license expired.
Based on the previous list of payment licenses cancelled updated by the Central Bank, as of May 22, there were 88 payment licenses cancelled in the industry.
The payment license has not expired
According to the Announcement on Stopping Transaction Business of Shenxin Payment issued by Shenxin Payment, the company decided to stop the payment transaction business of the company to protect the interests of merchants due to business problems of the company. The transaction will end at 23:00 on May 20, 2024, and the clearing will end after the settlement of funds on the day before May 21, 2024.
It is understood that Shenxin Payment was established in February 2004 with a registered capital of 100 million yuan and a paid in capital of 100 million yuan. In 2012, it obtained the Payment Business License issued by the People's Bank of China. The company's business covers POS receipt, QR code collection, intelligent parking and other services.
From its payment license information, the business type of Shenxin payment is bank card acquiring business, and the business coverage is limited to Shanghai. According to the publicity information on the renewal of the Payment Business License of non bank payment institutions (the fourth batch in June 2022), Shenxin payment was successfully renewed at that time, and the payment license was valid until June 26, 2027.
According to the official website of the People's Bank of China and the company's announcement, three institutions cancelled their payment licenses this year, namely, Shanghai Nuesta Technology Co., Ltd., which was announced by the People's Bank of China on March 15, Shenzhen UnionPay Financial Network Co., Ltd., which cancelled its license on January 10, 2024, and Yinshitong Information Technology Co., Ltd., which cancelled its payment license on May 11, 2024.
Wang Pengbo, a senior analyst in the financial industry of Broadcom Consulting, told the reporter of Securities Daily that in general, the "departure" was due to the internal integration of industry institutions, as well as the situation of self withdrawal due to operational difficulties. It can be seen that payment institutions should be prepared for danger in times of peace and combine the current situation and market demand to find business breakthroughs and solutions, seek breakthroughs in differentiated paths such as value-added services, and improve their market competitiveness.
Or more institutions "leave"
Looking at the industry, since the issuance of the first batch of third-party payment licenses in 2011, as of May 22, the central bank has issued a total of 271 payment licenses, which has been reduced to 183, with a total of 88 cancelled. Among them, prepaid card business institutions accounted for more than 80%. For example, in 2018, a total of 9 payment agency licenses were cancelled, and the license business type was prepaid card issuance and acceptance.
In addition, in recent years, the equity trading activities of payment institutions are also relatively frequent. For example, in 2023, the Central Bank's non bank payment institutions announced the information on major event change permission, and agreed to change Beijing Holding Group Co., Ltd., the main contributor of Beijing Municipal Traffic All in One Card Co., Ltd., to Beijing Financial Holding Group Co., Ltd.
Referring to the phenomenon of "departure" of payment institutions and equity transfer of payment institutions in the year, Wang Pengbo believed that there were three main reasons. First, the Regulation on the Supervision and Administration of Non bank Payment Institutions, which was officially implemented on May 1, made a series of regulations on controlling shareholders and actual controllers of payment institutions, and institutions represented by UnionPay Commerce began to integrate their payment licenses; Second, the purpose of the new regulations is to guide payment institutions to return to the source of payment, standardize the development and prevent risks, which also increases the cost of violation risk of some non compliant institutions and then chooses to leave; The third is that some payment institutions choose to exit due to operating pressure and profit difficulties.
Wang Shiqiang, senior researcher of Bingjian Science and Technology Research Institute, told the Securities Daily: "It is not ruled out that there will still be other institutions who choose to give up the payment license after evaluation and take the initiative to 'leave'. At present, the payment industry has been shuffled into a deep-water area. The payment market is highly competitive, and customer habits have been formed. Small and medium-sized payment companies lack scenario support, and the cost of obtaining customers is high. In order to maintain the smooth operation of payment business, some small and medium-sized payment institutions are facing survival problems. This year, with the implementation of the new payment regulations, it is expected that the integration and survival of the fittest in the industry will continue, but the value of payment itself will not change due to the withdrawal of some institutions. In the future, the industry will take compliance as the bottom line and move towards high-quality development. "
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