After the rise of mobile payment, WeChat and Alipay QR code scanning, two convenient third-party payment methods, quickly became the mainstream of the market, covering not only various commercial areas such as restaurants, shops, and entertainment, but also buses and subways. Non-profit institutions such as hospitals and hospitals can also see payment QR codes posted everywhere.

However, what was unexpected was that in October 2021, the central bank suddenly issued a notice on "Strengthening the Management of Payment Acceptance Terminals and Related Businesses". One of the regulations clearly stated that from 2022 Starting from March 1, personal collection codes can no longer be used for business collections, and their remote collection functions will also be restricted.

Although the main purpose of this new regulation is to regulate the domestic mobile payment market, it has invisibly affected many self-employed individuals operating legally and ordinary consumers.

Because with the implementation of new regulations, small vendors who previously used Alipay and WeChat personal payment codes must make adjustments, and there are only two options, either to use their personal payment codes. The code can be upgraded to a merchant code or return to cash flow.

In the eyes of many people, most vendors may choose to only accept cash. The reason is very simple. The withdrawal rate of personal payment codes is only about 0.1%, while the withdrawal rate of merchant payment codes is as high as about 0.6%. For those small traders with small profits, upgrading merchant codes requires Six times more money is obviously hard to accept.

And our country has a large number of individual small merchants, which are located in many food streets with high traffic, at the entrance of residential areas, etc. If they only accept cash for their operations in the future, then we ordinary consumers will also inevitably As a result, if you want to go to the street to eat delicious food or buy some fruits and vegetables, you may not be able to do it without bringing some cash. In addition, the two mobile payment giants Alipay and WeChat may also lose a large number of users as a result.

In the last five days since the implementation of the new regulations, I thought everything was finalized, but unexpectedly, the official suddenly issued a notice of adjustments to the new regulations on personal payment codes.

On February 22, the China Payment and Clearing Association officially announced: In order to further optimize the business environment, a new "Personal Business Collection Code" will be set up, which users can freely choose. By using the "Personal Business Collection Code", the service remains unchanged, the experience remains unchanged, the coding process is free, and you can enjoy efficient transaction reconciliation and other services.

In other words, after this adjustment, the mobile payment QR code collection type has added a third type of "personal business code" based on the original "personal code" and "merchant code". ".

The so-called personal business payment code can be broken down into "individual" and "business". "Personal" represents the unchanged 0.1% withdrawal rate, and "business" refers to individual merchants. QR code collection operation method.

After the new regulation is implemented on March 1, third-party payment platforms such as WeChat and Alipay will issue official invitations, and self-employed individuals can upgrade and use them for free. Whether it is a "personal business payment code" or a "merchant payment code", it is not mandatory to activate it, and users can choose freely.

Compared with the new regulations released in October 2021, this adjustment will bring positive impacts in three aspects.

First of all, for small-scale self-employed individuals, with the "Personal Business Collection Code", their business environment will no longer be affected, and they will no longer be forced to return to cash transactions due to cash withdrawal rate issues. .

Secondly, for the two mobile payment giants, Alipay and WeChat, there is no need to worry about the hidden dangers of a large number of users being lost after the implementation of the new regulations.

What is more important is that the adjusted new regulations have a clearer division of mobile payment market groups, or are further improved, without affecting the payment experience of legal operators. , to realize the regulation of the mobile payment market, thereby preventing the occurrence of various financial illegal problems.

You must know that the payment acceptance terminal involves reading, collecting payment information and generating payment instructions. Its security and compliance are not only related to the security of users’ payment information and funds, but also To a certain extent, it affects the security of the country’s financial market.

However, in the process of mobile payment development, various illegal and illegal behaviors such as "unauthorized changes to terminal transaction routing", "merchant code", "merchant name" and other altered transactions have continued to occur, causing relevant departments to It is difficult to restore the real consumption scene through transaction information. This gives some criminals an opportunity to take advantage of it, such as transferring illegal and criminal funds through channels (that is, money laundering), tax evasion, cross-border fraud, etc.

However, after the implementation of the new regulations, clearly classified QR code collections will have clear transaction information. With the support of big data technology, it can not only accurately combat money laundering, tax evasion, etc. Illegal activities, and even those gray industries will not be able to hide. For example, some personal collection accounts will be marked and monitored by big data when special amounts such as 150, 588, and 688 are collected at specific times in the evening.

This is the main purpose of introducing new regulations on personal payment codes. Although the "new regulations on personal payment codes" have caused quite a stir in public opinion in the past few days, with this official adjustment, the current results can be said to be satisfactory to everyone.