On November 26, topics such as “WeChat and Alipay personal collection codes will not be used for business collections” appeared on the hot search, but also aroused the public’s attention to the scan code payment that they have become accustomed to.
The above rumors are derived from the People’s Bank of China’s Notice on Strengthening the Management of Payment Acceptance Terminals and Related Businesses issued by the People’s Bank of China on October 13th (Yinfa [2021] No. 259 )” on the bar code payment acceptance terminal and related businesses. This new regulation, which will be officially implemented on March 1, 2022, states that “for individuals with obvious characteristics of business activities, barcode payment collection service agencies shall provide them with barcodes for collection of special merchants, and refer to the relevant management of special merchants. It is stipulated that it is not allowed to provide payment collection services related to business activities for them through personal payment bar codes.”
Why strengthen the barcode for personal payment? The central bank pointed out in the notice that in recent years, the problem of gambling gangs transferring gambling funds by renting and purchasing personal payment barcodes and building “offline platforms” has become increasingly prominent, disrupting the normal order of barcode payment business and infringing on the interests of the public. It is timely and necessary to strengthen the management of personal payment barcodes in a targeted manner. Refer to the management of special merchants for personal payment barcode users with obvious business characteristics, aiming to avoid the distortion of transaction information and the failure of risk monitoring due to consumer business being processed through the transfer business.
Regulate barcodes for personal receipts
It should be noted that the central bank’s new regulations mainly strengthen barcode payments for personal receipts, not merchant receipts. Barcode.
Personal collection codes are commonly found in “roadside stalls” vendors. They are different from merchants’ collection codes that accept payments from credit cards, Huabei, etc., and personal static collection codes can only Accept payment by debit card and account balance.
In the application, the personal payment code does not need to be registered as a merchant. To open, you only need to apply in the WeChat or Alipay APP to download the payment QR code image and print it out Ready to use.
“Notice”’s new regulations on personal payment barcodes are mainly reflected in four aspects:
1 Yes Refer to the management of special merchants for personal payment barcode users with obvious business characteristics, and request payment barcodes for such individual users to improve the quality of acquiring services for individual operators.
The second is to require personal static receipt barcodes to be used in remote non-face-to-face receipts in principle. It is indeed necessary to implement whitelist management to prevent Personal static collection barcodes are sold, rented, and lent to build online recharge channels for gambling activities.
The third is to refer to the relevant requirements of personal static collection barcodes for personal dynamic collection barcodes saved through screenshots, downloads, etc., to prevent criminals from using personal dynamic collections Barcode circumvention policy requirements.
Fourth, it is required to carefully determine the access conditions and scale of the whitelist of personal static collection barcodes, the validity period, the number of uses and transaction limits of personal static collection barcodes to prevent whitelists Risk of abuse.
Two details to be clarified
The four new rules that regulate personal collection codes above can be summarized into two: One is “to have Users of personal payment barcodes with obvious business characteristics refer to the management of special merchants. The second is that “personal static payment barcodes are prohibited in principle from being used for remote non-face-to-face payment, and it is indeed necessary to implement whitelist management.” The hotly debated “WeChat and Alipay personal collection codes will not be used for business collection” should be aimed at the former.
In fact, after the issuance of the “Notice”, third-party payment institutions are also waiting for how to identify “individuals with obvious characteristics of business activities” and personal income. The specific rules for changing the payment code to the merchant’s payment code for business purposes.
The central bank previously stated that in order to ensure the effective implementation of barcode-related requirements for personal payment and smooth business transition, the “Notice” sets a transition period, requiring payment service providers to fully and fully evaluate Customers pay for their normal needs, and formulate supporting service solutions.
The central bank stated that after individual operators and small and micro merchants cooperate with acquirers to complete the merchant’s network access procedures, the acquirers shall provide payment services in accordance with the merchant service standards, and establish in accordance with regulations Correspondence between merchants and acquiring settlement accounts and other element information, which helps prevent the risks of embezzlement of funds by outsourcing institutions and the “second clearing” of large merchants from the source, and helps to better protect the funds of individual operators and small and micro merchants Safety and service experience.
Why does the central bank regulate personal collections?Code
As early as October, when the “Notice” was released, the person in charge of the relevant department of the central bank gave the reason for regulating the barcode for personal collection in the question of reporters. .
In the view of financial regulatory authorities, in recent years, personal payment barcodes have been widely used, which has improved the efficiency of fund receipt and payment in the small and micro economy and the market economy. But at the same time, there are some hidden risks in personal payment barcodes.
For example, some institutions use personal payment bar code transfer services to handle mass production, operation, and consumption transactions, which confuses the nature of transactions, leads to distortion of transaction information, and affects the effectiveness of risk monitoring It is also not conducive to the use of payment services to empower business activities to add value. There are also some criminals who use the “run sub-platform” to attract a large number of people to use personal static collection barcodes to remotely transfer gambling funds with gamblers “point-to-point” online with high profits, hiding gambling funds split in many normal transaction scenarios. Disrupted the normal order of the barcode payment business and affected the effectiveness of the traceability mechanism of the “fund chain” involved in gambling.
The release of the new regulations has also raised concerns about the cost of real self-employed groups.
It can be seen that in terms of fees, there is no handling fee for personal collection codes, and only 0.1% handling fee is required to withdraw cash to bank cards, while merchant collection codes often Need to pay a service fee of 0.3%-0.6%.