aggregation code (merchants' aggregation code of unionpay network).

The current standard of personal commercial payment code is the internal definition of WeChat payment and Alipay, and there is no clear classification of official definition. Because the WeChat merchant code and Alipay merchant code existed before, and after the No.259 document landed, the commercial personal collection code that identified the business scene according to the requirements of the central bank will become a new type that has never appeared in the market before.

after the regulation is issued, there will be two ways for existing small businesses to convert: the first way is to use the merchant receipt code; The second is to use digital RMB wallet as a trading tool, but it has been tepid since the introduction of digital wallet by the central bank, and there is still a long way to go. The promotion of legal digital currency is a long-term trend in the future, but the process will not be so fast if it sinks into roadside vendors.