Disorders such as low-rate subsidies and bundle sales in the POS payment industry have been seriously warned by regulatory authorities!

Be wary of the monopoly pattern of the payment industry. Under the network economy, the Matthew effect of the stronger and the stronger and the weaker and weaker is more obvious. Attention should be paid to the impact of the formation of the monopoly pattern of the payment industry on the security of the payment market. How to prevent such institutions from abusing their market position and forming a "no grass under the big tree" situation, how to solve the problem of inhibiting the innovation and development of small and medium-sized institutions through exclusive related services, bundling sales, cross-subsidies, price discrimination, etc. The healthy and sustainable development of the service market is crucial to the study of these issues. "Report" quoted professional consulting research data pointed out that as of the end of the third quarter of 2017, the scale of third-party mobile payment transactions reached 31.6 trillion yuan, an increase of 100.1% year-on-year. In the transaction structure, personal applications accounted for 67.7%, mobile finance accounted for 18.7%, and mobile consumption accounted for 11.7%. The proportion of mobile finance and mobile consumption has increased significantly. Mobile finance is mainly due to the growth of the financial payment business of third-party payment institutions such as Alipay and Tenpay. Mobile consumption is due to the gradual force and widespread penetration of offline payment.

In terms of mobile payment share, Alipay and Tenpay accounted for about 94% of the market share, and still maintained a monopoly position. The second echelon, such as One Wallet, JD.com, and Quick Money, benefited from the expansion of various scenarios. The transaction scale and ranking have increased, but it is difficult to shake the current pattern. In the field of Internet payment, its transaction volume in the third quarter of 2017 reached 7.4 trillion, a year-on-year increase of 42.3%. From the perspective of transaction scale and structure, online lending and wealth management asset management products represented the highest proportion of Internet finance, reaching 42.5%; personal business, including credit card repayment and transfer, accounted for the second, accounting for 23.1%; the proportion of online consumption represented by online shopping, airline hotel reservations, O2O, etc. decreased to 14.9%. Alipay and Tenpay accounted for 29.2% and 18.3% respectively in this area, leading the market but not forming a monopoly position.

Crack down on licensed institutions to serve unlicensed institutions. Behind the payment pattern means that more than 200 companies compete for less than 20% of the remaining share. Profitability is hardly a portrayal of most payment institutions. According to the editor, the central bank survey found that most of the payment institutions are still operating at a loss, except for a few companies with a higher market share. On the one hand, industry characteristics determine that companies that form a scale effect can profit from it. On the other hand, payment institutions simply pursue scale and ignore business model innovation, and insufficient value-added services. In 2017, the central bank issued two notices a year to strengthen centralized management of payment institutions' reserve funds. It is required that the special account for deposit reserve shall not be paid for the time being, to prevent the payment institution from taking profit margin as the main profit model. In addition, it is required to increase the reserve deposit ratio. In April 2018, the reserve ratio of the network payment business was raised to a maximum of 50%. Fan Shuangwen pointed out that the average deposit ratio of payment institutions' customer reserves has reached 50%.

"Report" pointed out that some current chaos still exists, such as low-level dumping of payment institutions, commission rebates, false advertising, cross-subsidies and other improper ways to compete for customers, resulting in disordered competition. In addition, after the central bank stopped issuing new licenses, more and more companies used the licensed company interface to carry out secondary clearing business, which was very easy to cause the embezzlement and interception of customer funds, and it was also easy to cause the money to run. In 2017, we continued to increase the crackdown on unlicensed payment services. With the support of the Ministry of Public Security, we cleared and disposed of more than 230 unlicensed payment institutions. In addition, the behavior of providing services for unlicensed institutions by certificate holders shall be the focus of inspection.

Hainan ’s capital flow has increased by nearly 50%, and all parts of the country are scrambling to develop themselves into regional financial centers. Payment and clearing data can clearly tell you that that place is the regional financial center. According to the latest available data, the "Report" shows that in 2016, the five regions with the largest capital flows in China were Beijing, Shanghai, Guangdong (excluding Shenzhen), Shenzhen, and Zhejiang. The five regions with the lowest total capital flows are Tibet, Qinghai, Ningxia, Guangxi, and Xinjiang. It is worth noting that the growth of capital flows varies greatly among regions. Among them, Hainan has the largest growth rate, reaching nearly 50%, followed by Fujian, Shanghai, Guangdong (excluding Shenzhen), and Hunan, all with growth rates of 30%. Above, the lowest five regions are Jiangxi, Guangxi, Yunnan, Ningxia and Jilin, with negative growth rates. Generally speaking, because Beijing and Shanghai not only have a large base of capital flows, but also rank in the forefront of growth in the country, the regional capital flows have also become more concentrated.

Payment is no small matter. The connection between innovation and security in the payment field and the development of payment in rural areas have shared their own thinking. Innovation and security complement each other in the development of payment systems and cannot be undone. From the perspective of regulation, regulation should not blindly encourage innovation, because market entities have a strong incentive to innovate from the interests, but they will not consider the problem as a whole. Individual innovation impulses may not necessarily form a safe environment for the market, and regulators need to look at the whole Do some work. Regulators should have a preference for safety, the market subject is a preference for innovation, and the two form an organic coordination. Regulation balances the relationship between innovation and safety. In terms of long-term practice, we often remedy the situation, but it is more important to plan ahead than to remedy the situation, because payment and settlement involve the safety of funds and property of thousands of households. For example, telecommunications fraud may be lost because of a life behind thousands of dollars. Payment is no small matter. Regardless of the theoretical community or market players, I hope that there should be some understanding and support for regulatory preferences on risk and safety. If the overall security of the market is insufficient, the majority of the market players will be damaged. In order to prevent telecommunications fraud, the supervision has made many restrictions on the ATM machine business, and these restrictions almost ruined the development of the ATM business. But analyzing domestic telecom fraud operations, even more than 50% of telecom fraud is done through ATM, the market has some reactions and accusations after taking corresponding measures, but compared with the lives lost, we should carry these accusations, but also hope to There are fewer accusations from a broader perspective. After all, regulation and security will be the top priority in the development of the payment industry. The tone will remain the same in the future: with safety and efficiency as the goal, preventing and mitigating the risks of the payment market will be the main theme of the future of payment supervision. This is basically to promote innovation.

Pay attention to the impact of the formation of the monopoly pattern of the payment industry on the security of the payment market. Under the network economic conditions, the Matthew effect of the strong and the strong and the weaker is more obvious. How to prevent such institutions from abusing market status and forming a situation where there is no grass under the big tree, how to solve the problem of inhibiting the innovation and development of small and medium-sized institutions and affecting the payment service market through exclusive related services, bundling sales, cross-subsidies, price discrimination, etc. Healthy and sustainable development is essential for research on these issues. Pay attention to payment information and data security. With the increasing value and value of information and data resources, the security of information and data, as well as the personal privacy protection issues that have arisen, have become an important issue. Although we have established the basic principles of legality, transparency, and minimization in the collection and processing of data by relevant market institutions in the formulation of relevant systems, in practice, excessive information collection, misuse of information, and even the sale of information data are still serious. Cases triggered by this also happen from time to time. The recently issued “General Data Protection Regulations” of the European Union poses severe challenges to the compliance of domestic payment institutions with cross-border business, and at the same time provides a useful reference and reference for China to strengthen its data security supervision. In the promotion of inclusive financial services by payment services, we must pay special attention to safety and put safety first. Payment service innovation can play an important role in promoting inclusive finance. In recent years, the People ’s Bank of China has organized market institutions to effectively support the development of inclusive finance by improving payment infrastructure and innovating payment methods. For example, migrant workers' bank card special services, helper withdrawal services, mobile payment convenience demonstration projects, etc. In these tasks, we first emphasize safety. Consumers of inclusive finance generally have lower risk tolerance and higher capital security.