Payment item refers to the name of the merchant to pay. Payment interval refers to the time interval corresponding to the payment of merchants to the collection account. The deadline for batch transaction response refers to the business rules for card issuers to return batch payment transactions to UnionPay cards. The entry of UnionPay refers to the business operation of enterprises and institutions to designate bank card accounts from their own settlement accounts for payment.
Extended data:
1. The agent payment transaction is recorded, which is a transaction that entrusts a third party to pay on its behalf. After the payer provides the bank account information and corresponding funds related to the payment object, the funds will be transferred to the object account through the agent payment system. It can also be said that enterprises and institutions designate bank card accounts from their own settlement accounts for payment, so it is called payment on behalf of the transaction.
Second, third-party payment, as the name implies, in the process of economic transactions, consumers do not pay directly to the merchants themselves, but through third-party payment instead of consumers to complete the transaction.
The reason of third-party payment is synchronous exchange, which can avoid the risk of unequal exchange, so we should follow the principle of synchronous exchange and ensure equal exchange. This requires that the payment method should be adapted to the delivery method, and for face-to-face spot transactions, it should be adapted to the immediate one-step payment method; For cross-border or futures transactions, adapt to the step-by-step payment method in the process. The programmed step-by-step payment method caters to the process characteristics of the transaction subject's circulation acceptance. Payment is not completed in one step from the beginning of payment to the transfer of ownership to the other party, but an intermediary custody link is added in the middle. From the original direct payment to indirect remittance, the business is changed from one step to step operation, forming a process that can be monitored and controlled, and payment can be made conditionally according to steps. In this way, goods can go the way of goods and money can go the way of money, and the two echo each other and rise and fall simultaneously. It is the capital flow that adapts to the logistics process of commodities and achieves the corresponding effect, which makes the payment and settlement method more scientific and reasonable and meets the market demand.