On April 1, China unionpay announced that China unionpay and tenpay technology co., ltd. signed a cooperation agreement to formally carry out WeChat payment barcode payment business cooperation. We have completed the system docking, intermodulation test and production verification, and all the preparations have been completed. From now on, China unionpay to accept single institutions provide micro letter business access test barcode payment services, accept single institutions to the unionpay open platform for related documents, according to the China unionpay and micro letter to pay partial access to guidance.
This cooperation is regarded as a substantive landing of the "disconnect" task. However, with the finalization of the cooperation intention between tenpay and unionpay, alipay's future cooperation path is also highly anticipated.
According to unionpay, barcode payments include "hairpin" and "straight connection". Among them, the hairpin directly connects to the express payment business; It refers to the current commercial bank and payment institution to extend the merchant to barcode payment institutions through direct connection, and to provide merchants with barcode payment service.
"Unionpay and WeChat pay the co-operation, not involving hairpin quick side payment, only for the commercial Banks to gain tenpay barcode in accept unilateral pay to accept the business into the unionpay network, conform to the regulations." Unionpay said.
1. Design principles of unilateral design.
Close to the economic observer, A unionpay cooperation after the transaction process, the future transactions from wealth tenpay liquidation mode will become "merchants - single institutions - unionpay - alipay/goods tenpay (hereinafter referred to as" A/T ") - unionpay or snatched - card issuers ", the current solution is still just one off the problem of direct, that card side, after have made and/or system layout, depends mainly on how to choose the market institutions.
The source further explained that the current A/T has been more than ninety percent of the mobile payment market, from its market orientation and developing trend of the current market, A/T institutions are unlikely to return to A fully spontaneous yards from the single common accept state of single institution.
"If A/T return to A pure single identity, can only use some directly to push the agency to help it realize businesses to expand, such as delicious not, two-dimensional fire and pay treasure to word of mouth, etc., but this efficiency is much lower. Because the market has a considerable number of quality businesses are firmly in the hands of some of the receiving institutions, including the collection agency also includes the receipt of the bank. In addition to the promotion of these institutions, they will also provide some services for merchants clearing and marketing. A/T wants to maintain the size of the current market and, in some ways, must rely on the power of these institutions. "On the other hand, there is A strong desire to cooperate with the collection agencies in the market because of the huge number of users that A/T holds," the person said. But if the single institution identity from taking single degenerate into the pure market expand the role of, can only to push my sending merchant information, post code, and this kind of involved in the industry chain, in the form of cash flow has nothing to do with them, receive a single licence, there would be no meaning for some larger scale volume strength of single institutions may be completely lost his enthusiasm."
At the same time, the source added that further, even if A/T return single role, is to solve the problem of its second "qing", do not represent not exist "information two qing" violations.
The so-called "information two clear" refers to the collection agency to control the risk, and actively requires that the control links such as risk identification and merchant visit should be taken by the outsourcing agency. Outsourcing company in electronic form of mass transfer and keep merchants trading information, identify fou giving the user's credit card number, card number, transaction time, transaction type, transaction amount, POS terminal information such as the core data, itself is a violation of the "on strengthening the safety management in bank card notice to prevent and crack down on the crime of bank card (silver hair [2009] no. 142), about" involved in customer information and transaction information processing outsourcing services, accept single institutions must not allow outsourcing services outside of storage card card number information ". To risk control, in charge of the single business core data link, the "second information qing" withholding information data, resell, the risk of lost or tampered with, sending data is not strictly enforce the "T + 1" rigid system.
"Therefore, we need to thoroughly solve the problem of capital ii and information clarification and embed a liquidation link in the single side. We think it is necessary. In the spirit of document 296, A new position is established for A/T such as A/T, which is called barcode payment code provider. The compliance of this model is supported.
And compared with the bank clearing center, deep gold junction and its silver institutions such as "passthrough mode," unionpay said the plan design will adhere to the three bottom line: "first of all, all the money to pay for action in principle by the central bank big small system is complete; Secondly, it is necessary to ensure that the payment of the downstream receiving institutions in full and on time is guaranteed to ensure the efficiency of the liquidation, and to avoid the occurrence of financial fracture in the liquidation process. The third is to establish clear reconciliation mechanisms.
2. The "direct connection" limit will arrive.
In particular, with the implementation of the bar code payment specification on April 1, the "direct connection" will also be on the test.
According to the "standard of the people's bank of China about payment notice innovation business (silver hair [2017] no. 281, hereinafter referred to as the" 281 ") and "the people's bank of China about print and distribute < barcode payment specification (try out) > notice (silver hair [2017] no. 296, hereinafter referred to as the" 296 "), and a series of regulatory documents requirements, are required to pay off involve a direct deal with barcode payments between institutional investor and migrated to the legal qualification of the clearing house.
The economic observer has learned from several payment agencies that the network is also getting a lot of requests for speed.
Recently, the made disclosing data, said since last June 30, cutting quantity, since the launch of the year to March 31, non-bank payment institution network payment and settlement platform (hereinafter referred to as "snatched platform") since June 30, 2017 to start the cutting quantity, cumulative transfer money trading clearing several successful breakthrough in 10 billion. Access to more than 340 more than 340 Banks and payment and start the migration, has complete liquidation transfer more than $100 of capital transaction, successful trading amount of nearly 3 trillion yuan, the highest frequency processing more than 100 million transactions in a single day.
"The two clearing houses are the regular army of the central bank, and of course there is competition." A person close to snatched said, "but at this stage, whether unionpay or made, by far the most important task is to assist the supervision as soon as possible complete 'broken direct priority, will be paid A/T two institutions deal in regulatory liquidation system. The relationship between the two should be more cooperative than competitive.
Now, unionpay in liquidation, after all, there are more than ten years in the field of system construction and market experience, in transaction processing speed, the clearing efficiency of funds and so on various aspects of service capacity at this stage is slightly better, but made as a key support for the construction of online clearing houses, one of the market an important participation in the liquidation.
However, the settlement mode of alipay, tenpay and the two payment giants also has a profound impact on the future pattern of the clearing market. Now that tenpay has taken a step forward, it remains to be seen how alipay will choose.
But also have related business people expressed the pattern of hesitation: "has not seen the ground hairpin side mode, unionpay and snatched can meet, can appear different permutation and combination method, if the A/T issuing side chose snatched, that involves clearing operations of unionpay CARDS made need fee payment unionpay brand? These details are not clear at the moment.
This cooperation is regarded as a substantive landing of the "disconnect" task. However, with the finalization of the cooperation intention between tenpay and unionpay, alipay's future cooperation path is also highly anticipated.
According to unionpay, barcode payments include "hairpin" and "straight connection". Among them, the hairpin directly connects to the express payment business; It refers to the current commercial bank and payment institution to extend the merchant to barcode payment institutions through direct connection, and to provide merchants with barcode payment service.
"Unionpay and WeChat pay the co-operation, not involving hairpin quick side payment, only for the commercial Banks to gain tenpay barcode in accept unilateral pay to accept the business into the unionpay network, conform to the regulations." Unionpay said.
1. Design principles of unilateral design.
Close to the economic observer, A unionpay cooperation after the transaction process, the future transactions from wealth tenpay liquidation mode will become "merchants - single institutions - unionpay - alipay/goods tenpay (hereinafter referred to as" A/T ") - unionpay or snatched - card issuers ", the current solution is still just one off the problem of direct, that card side, after have made and/or system layout, depends mainly on how to choose the market institutions.
The source further explained that the current A/T has been more than ninety percent of the mobile payment market, from its market orientation and developing trend of the current market, A/T institutions are unlikely to return to A fully spontaneous yards from the single common accept state of single institution.
"If A/T return to A pure single identity, can only use some directly to push the agency to help it realize businesses to expand, such as delicious not, two-dimensional fire and pay treasure to word of mouth, etc., but this efficiency is much lower. Because the market has a considerable number of quality businesses are firmly in the hands of some of the receiving institutions, including the collection agency also includes the receipt of the bank. In addition to the promotion of these institutions, they will also provide some services for merchants clearing and marketing. A/T wants to maintain the size of the current market and, in some ways, must rely on the power of these institutions. "On the other hand, there is A strong desire to cooperate with the collection agencies in the market because of the huge number of users that A/T holds," the person said. But if the single institution identity from taking single degenerate into the pure market expand the role of, can only to push my sending merchant information, post code, and this kind of involved in the industry chain, in the form of cash flow has nothing to do with them, receive a single licence, there would be no meaning for some larger scale volume strength of single institutions may be completely lost his enthusiasm."
At the same time, the source added that further, even if A/T return single role, is to solve the problem of its second "qing", do not represent not exist "information two qing" violations.
The so-called "information two clear" refers to the collection agency to control the risk, and actively requires that the control links such as risk identification and merchant visit should be taken by the outsourcing agency. Outsourcing company in electronic form of mass transfer and keep merchants trading information, identify fou giving the user's credit card number, card number, transaction time, transaction type, transaction amount, POS terminal information such as the core data, itself is a violation of the "on strengthening the safety management in bank card notice to prevent and crack down on the crime of bank card (silver hair [2009] no. 142), about" involved in customer information and transaction information processing outsourcing services, accept single institutions must not allow outsourcing services outside of storage card card number information ". To risk control, in charge of the single business core data link, the "second information qing" withholding information data, resell, the risk of lost or tampered with, sending data is not strictly enforce the "T + 1" rigid system.
"Therefore, we need to thoroughly solve the problem of capital ii and information clarification and embed a liquidation link in the single side. We think it is necessary. In the spirit of document 296, A new position is established for A/T such as A/T, which is called barcode payment code provider. The compliance of this model is supported.
And compared with the bank clearing center, deep gold junction and its silver institutions such as "passthrough mode," unionpay said the plan design will adhere to the three bottom line: "first of all, all the money to pay for action in principle by the central bank big small system is complete; Secondly, it is necessary to ensure that the payment of the downstream receiving institutions in full and on time is guaranteed to ensure the efficiency of the liquidation, and to avoid the occurrence of financial fracture in the liquidation process. The third is to establish clear reconciliation mechanisms.
2. The "direct connection" limit will arrive.
In particular, with the implementation of the bar code payment specification on April 1, the "direct connection" will also be on the test.
According to the "standard of the people's bank of China about payment notice innovation business (silver hair [2017] no. 281, hereinafter referred to as the" 281 ") and "the people's bank of China about print and distribute < barcode payment specification (try out) > notice (silver hair [2017] no. 296, hereinafter referred to as the" 296 "), and a series of regulatory documents requirements, are required to pay off involve a direct deal with barcode payments between institutional investor and migrated to the legal qualification of the clearing house.
The economic observer has learned from several payment agencies that the network is also getting a lot of requests for speed.
Recently, the made disclosing data, said since last June 30, cutting quantity, since the launch of the year to March 31, non-bank payment institution network payment and settlement platform (hereinafter referred to as "snatched platform") since June 30, 2017 to start the cutting quantity, cumulative transfer money trading clearing several successful breakthrough in 10 billion. Access to more than 340 more than 340 Banks and payment and start the migration, has complete liquidation transfer more than $100 of capital transaction, successful trading amount of nearly 3 trillion yuan, the highest frequency processing more than 100 million transactions in a single day.
"The two clearing houses are the regular army of the central bank, and of course there is competition." A person close to snatched said, "but at this stage, whether unionpay or made, by far the most important task is to assist the supervision as soon as possible complete 'broken direct priority, will be paid A/T two institutions deal in regulatory liquidation system. The relationship between the two should be more cooperative than competitive.
Now, unionpay in liquidation, after all, there are more than ten years in the field of system construction and market experience, in transaction processing speed, the clearing efficiency of funds and so on various aspects of service capacity at this stage is slightly better, but made as a key support for the construction of online clearing houses, one of the market an important participation in the liquidation.
However, the settlement mode of alipay, tenpay and the two payment giants also has a profound impact on the future pattern of the clearing market. Now that tenpay has taken a step forward, it remains to be seen how alipay will choose.
But also have related business people expressed the pattern of hesitation: "has not seen the ground hairpin side mode, unionpay and snatched can meet, can appear different permutation and combination method, if the A/T issuing side chose snatched, that involves clearing operations of unionpay CARDS made need fee payment unionpay brand? These details are not clear at the moment.