Another aggregation code announced to shut down? What is the future of QR code and aggregation payment?

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The week before New Year's Day, the People's Bank of China issued the "Bar Code Payment Service Specification (Trial)" (hereinafter referred to as "Specifications"), and proposed a series of regulatory requirements for institutions that carry out bar code payment services (banks and bank payment institutions).

Since the release of the new regulations for central bar code payment, the first company has proactively announced a merchant-collected product based on a comprehensive self-examination of regulatory documents. This move will have a great impact on the domestic payment industry, and will also produce a good demonstration role. Yunfu announced that it will suspend the merchant collection function and set up a special team to conduct business self-examination. As the industry's large-scale cloud pays for the development of compliance, it also further demonstrates that the power of the central bank's new policy is very large.

Another aggregate code announced today to shut down! At present, the domestic payment industry is more complicated. Especially with the rapid development of the form of aggregate payment products, various types of violations have emerged one after another. To this end, the central bank has repeatedly carried out related standard rectification work for aggregate payments.

The above picture is a notice pushed by the official WeChat public number of an aggregate payment brand today. It may be found that the wording is defective and the notice has been deleted. In fact, there is a sentence in the notice that is very illustrative.

According to relevant media reports, the current domestic payment industry is more complicated. Especially with the rapid development of the form of aggregate payment products, various types of violations have emerged one after another. To this end, the central bank has repeatedly carried out related standard rectification work for aggregate payments.

In 2017, the central bank issued several documents as follows:

Notice on Conducting Cleanup and Remediation of Non-Regulatory Aggregation Payment Services (Yinfa [2017] No. 214)

Notice of the People's Bank of China on Strengthening the Security Management of Bank Card Acceptance Terminals (Yinfa [2017] No. 21)

Notice on Strengthening the Relevant Matters Concerning the Management of Centralized Collection and Payment of Small Payment Systems (Yin Ban Fa [2017] No. 110)

Notice of the General Office of the People's Bank of China on Further Strengthening the Remediation of Unlicensed Operation Payment Services (Yin Ban Fa [2017] No. 217)

Notice on Regulating Payment Innovation Business (Document No. 281)

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