At present, there are many acquirers in the market. The acquiring institution is an agent or intermediary between the merchant and the issuing bank. After the cardholder uses the bank card or credit card for consumption, the trader will clear the bill at the acquiring institution through the agreed POS.
The public has misunderstanding of stored value payment tools
The general public also has questions about whether Alipay and WeChat pay for retail payment systems. In fact, Alipay and WeChat payment are not necessarily retail payment systems. Alipay or WeChat payment is the channel for Internet financial payment protocols, which has broken the traditional retail payment system concept.
In daily consumption, the retail payment system only uses face-to-face consumption in the store card; third-party payment can use the Internet to realize consumption through the mobile phone's QR code or other technology, and the situation is no longer just opposite the store.
The public also misunderstood the value-for-sale payment instrument license, card issuance and system.
The stored value payment instrument license is not directly related to the card issuance. The stored value payment tool mainly covers any payment category, including the stored value function, and generally has the stored value function equal to the electronic money package and other tool services. The card issuer or card issuer provides only the credit and account arrangement. They do not necessarily provide the account stored value function, but the prepaid card product must contain the stored value function, because the general prepaid card needs to be recharged before it can be consumed. The coverage of the license is not just a system problem, but the operation of the stored value function in the payment behavior, but the payment tool does not have a separate stored value function does not require a license.
Development will face the neck
Moreover, the public is also concerned about third-party payment, should the card be popularized, or is it a popular payment system? Third-party payment is popular, third-party payment mainly covers Internet payment and mobile payment, and card payment is mainly used for traditional bank card and credit card arrangement. The need to popularize third-party payment is not mainly in the market or system of card products. Under the new payment method of Internet payment to mobile payment, popularization requires three levels.
First, the user's ease of use; Second, the transaction security situation; Third, the use of the scene. The system is only one of the tools of the payment process, and the general third-party payment does not necessarily need to have a stored value function, and the binding bank card or the binding credit card can also be used.
Last year, China Mobile's payment business handled a total of 13.8 billion transactions, with a transaction amount of 108 trillion yuan. Third-party payments can lead to convenience consumption and transactions, which will lead to economic growth, and the productivity index will also increase. The popularization method requires the government and regulators to open up the market to enable the public to use a variety of scenarios. Under the current statutory framework, the development of third-party payment will face the shackles, because the stored-value payment instrument licences are only implemented under the traditional regulatory concept, and there is no real consideration of the market and the daily use of the public.
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