Recently, the administrative punishment information released by the Shanghai headquarters of the People's Bank of China is like a bomb, setting off a storm in the payment industry. The three payment companies of Shengfutong, Anfubao and Yinshengbao were heavily fined for violations, and a number of relevant responsible persons were fined together, with a total fine of more than 2,290 yuan. The news came like a bolt from the blue and shocked the entire payments industry.
These three well-known payment companies, Shengpay, Anfubao, and Yinshengbao, originally had a large number of merchants and users, but now their image has been seriously damaged due to violations. Among them, Shanghai Yinshengbao electronic payment service*** was severely punished, warned and confiscated illegal gains 301More than 890,000 yuan, and a fine of 1454 was imposed at the same timeMore than 200,000 yuan, a total of 1,756 fines and confiscationsMore than 100,000 yuan. And Huang Mouhe, then the vice president of Shanghai Yinshengbao Electronic Payment Service, was given a warning and fined 17 for violating the liquidation management regulations250,000 yuan. 
In addition, Shanghai Shengfutong electronic payment service*** was also given a warning and fined 1 million yuan for violating the liquidation management regulations. Mr. He, then the vice president of Shanghai Shengpay Electronic Payment Service, was given a warning and fined 6 for violating the liquidation management regulations50,000 yuan. The illegal acts of Anfubao Commerce*** are more serious, violating the regulations on account management, liquidation management, failing to perform customer identification obligations as required, failing to submit large-value transaction reports and suspicious transaction reports as required, and conducting transactions with unidentified customers. As a result, he was given a warning and confiscated 41,647 illegal gains$92 and a fine of $3.9 million, totalling $3,941,64792 yuan. Yu Moudong, then the general manager of Anfubao Commerce, was given a warning and fined 160,000 yuan for failing to perform customer identification obligations as required, failing to submit large-value transaction reports and suspicious transaction reports as required, and trading with unidentified customers. Netizens have a lot of discussions on this matter: "These payment companies are really lawless, and the punishment for them is too light!."Some netizens said: "As consumers, we should pay more attention to our payment security and avoid using these payment companies with violations." "This incident has not only aroused public concern about the payment industry, but also exposed that the regulatory authorities are strengthening their supervision of the payment industry. In recent years, with the popularity and development of mobile payment, the payment industry is also facing more and more challenges and risks. Therefore, it is necessary for the regulatory authorities to strengthen the supervision of the payment industry. For the payment company that was fined, this incident is undoubtedly a heavy blow. Not only do they have to bear hefty fines, but they can also face reputational damage and loss of merchants. Therefore, these companies should seriously reflect on their own behavior and strengthen internal management to ensure that similar violations do not occur again. At the same time, for other payment companies, this incident is also a cautionary tale. They should take this as a warning and strengthen their own compliance management to ensure that similar problems do not arise in future developments. In short, the incident of the payment giant being fined has aroused widespread attention and discussion. We should strengthen the supervision of the payment industry to ensure the security of consumers' payments. At the same time, payment companies should also strengthen their own compliance management to ensure that similar problems do not arise in future development.