The laws and regulations that the third-party payment platform should abide by include the Law of the People's Republic of China on the People's Bank of China and the Measures for the Administration of Payment Services of Non-financial Institutions formulated by the People's Bank of China.
Third-party payment not only brings convenience to people, but also produces huge capital precipitation. There are still legal gaps and inadaptability in the deposit of huge amounts of funds paid by third parties in many aspects. It is precisely because of gaps and inadaptability that the operation of the third-party payment platform is not standardized. In recent years, the state has intensified its efforts to rectify and standardize.
1, 20 13 On June 9, the People's Bank of China issued Order No.6 of 20 13. In order to standardize the management of customers' reserve funds of payment institutions, protect the legitimate rights and interests of the parties, promote the healthy and orderly development of the payment industry, and maintain financial and social stability, the People's Bank of China has formulated the Measures for the Deposit and Management of Customers' Reserve Funds of Payment Institutions, which are hereby promulgated and implemented.
2. The Notice on Further Clarifying Relevant Requirements for Violation of Regulations and Rectification (hereinafter referred to as the Notice) was issued on 20 1 12+04, aiming at standardizing the direct payment connection between banks and third parties, and requiring that the business bypassing UnionPay be gradually moved to the UnionPay platform. This time, UnionPay rectified the direct connection between third-party payment and banks, involving about 30 UnionPay members, but not including online payment, not including Alipay.
3. On the evening of July 3, 2005, 2065438+KLOC-0, the central bank issued the draft of the Administrative Measures for Online Payment of Non-bank Payment Institutions (hereinafter referred to as the draft), which introduced a series of new regulations for online payment, including restrictions on online payment.
From 4.20 16 12 1, the Notice on Strengthening the Management of Payment and Settlement to Prevent New Crimes in Telecommunication Networks was officially implemented. According to the circular, starting from 20 16 12 1, banks should sign an agreement with depositors to stipulate the daily cumulative limit, the number of transactions and the annual cumulative limit for transferring money from non-counter channels to unnamed bank accounts and payment accounts. If you exceed the limit and the number of transactions, you should go to the bank counter.
Similar to the requirements for banks, since 65438+February 1 day, when a payment institution opens a payment account for a unit or individual, it shall stipulate the daily cumulative transfer limit and the number of transactions between payment accounts and between payment accounts and bank accounts. The limit and the number of transactions are exceeded, and the transfer business cannot be conducted.
5.2065438+2007 10, the central bank issued the Notice on Relevant Matters Concerning the Centralized Deposit and Management of Customer Reserves of Payment Institutions, which stipulated that from 2065438+April 2007, payment institutions should deposit customer reserves into the special deposit account of designated institutions according to a certain proportion, and the funds in this account will not pay interest temporarily.
6. Since the Central Bank issued the Notice on Standardizing Payment Innovation Business (No.281) in February, 20 17 (hereinafter referred to as the Notice), the relevant policies for rectifying third-party payment have formed a momentum of intensive publication, and were put into practice in the first half of 20 18.
7.2065438+On June 29th, 2008, the central bank issued the Notice on Relevant Matters Concerning the Centralized Deposit of All Customers' Reserves of Payment Institutions (YinbanfaNo). 20 18 1 14), which requires that the centralized deposit ratio of customers' reserve funds of payment institutions be gradually increased every month from 2065438+July 9, 2008.
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Third-party payment risk
1. Subject qualification and business scope risk. The business engaged in third-party payment is between network operation and financial services, and its legal status is still unclear. Although most third-party payments try to establish themselves as intermediaries to provide users with online receipts and payments, from the actual operation of all these third-party payment services, payment intermediary services are essentially similar to settlement services. In addition, while providing third-party guarantees for buyers and sellers, a large amount of funds in transit accumulate on the platform, showing a function similar to that of banks absorbing deposits. According to China's Commercial Bank Law, taking deposits, issuing loans and settling accounts are the exclusive business of banks. The business operated by the third-party payment platform has broken through some existing joining restrictions, and how to position it is a problem that we should think deeply.
2. Risk of in-transit fund deposit and virtual account. In the process of payment, there is a kind of fund absorption behavior in both the third-party payment platform model and the internal transaction model. When the absorbed funds reach a considerable scale, there will be problems of fund security and payment risk.
(1) In the mode of third-party payment platform, the funds deposited in transit are often placed in the accounts opened by third parties in banks, and the funds of ordinary merchants will stay for two days to several weeks. The possible risks of this part of the funds in transit are: First, more and more funds in transit will increase the credit risk index of the third-party payment platform itself. The third-party payment platform provides guarantee for both parties to online transactions, so who will provide guarantee for the third party? Second, third-party payment platforms have a large amount of funds deposited. If there is no effective liquidity management, it may lead to payment risk.
(2) In the internal trading mode, it involves the issuance and use of virtual currency. At present, virtual currency has not been included in the supervision scope of the central bank and is outside the banking system, so it is difficult to track the flow of funds within the platform, and what impact it will have on the real society is still unclear. However, the current issuance of virtual currency is completely out of control. When more and more people recognize and use virtual currency, it will be a huge disaster if there is a problem in the docking of virtual currency and real currency. No one is willing to pay for this risk and can't afford it.
3. Money Laundering Risks Brought by the Anti-Money Laundering Law The central bank said in the Anti-Money Laundering Report that the proportion of online banking in banking business has increased rapidly, most transactions are conducted by telephone and computer network, and banks and customers rarely meet each other, which makes it very difficult for banks to understand customers and has become a prone and high-risk area for money laundering.
References:
Payment business license _ Baidu Encyclopedia
Third Party Payment _ Baidu Encyclopedia