On December 17, the Regulations on the Supervision and Administration of Non-bank Payment Institutions were officially promulgated, which will come into force on May 1, 2024. The Regulations consist of 6 chapters and 60 articles, which further bring non-bank payment institutions and their business activities under the track of rule of law for supervision. According to public data from the People's Bank of China, as of the end of September, there were 185 non-bank payment institutions in the country, with a total annual transaction volume of more than 1 trillion yuan and an amount of nearly 400 trillion yuan.
Alipay, WeChat Pay and other payment institutions immediately stated that they will further improve the relevant business rules, actively implement the "Regulations", further strengthen the protection of the rights and interests of financial consumers, better meet the payment and settlement needs of users, and continue to improve the quality and efficiency of serving the real economy.
This is in line with the country's policy, the report of the 20th National Congress of the Communist Party of China proposedAll types of financial activities are subject to supervision in accordance with the law。**The Financial Work Conference proposed to strengthen the construction of financial rule of law and promote legislation in key financial areas and emerging fields in a timely manner. As a result, new regulations for the non-bank payment industry have emerged.
In recent years, the non-bank payment industry in our country has developed very rapidly, as the article says:
According to relevant data released by the People's Bank of China, as of the end of September this year, there were 185 non-bank payment institutions (hereinafter referred to as "payment institutions") in China, and in 2022, they processed more than 1 trillion payments with an amount of nearly 400 trillion yuan, accounting for about about the total amount of electronic payment business in the country, and the average daily reserve balance was 209 trillion yuan, serving more than 1 billion individuals and tens of millions of merchants.However, there is a lack of supervision of non-bank payment institutions, which has led to many illegal phenomena, such as misappropriation of user funds in violation of regulations, leakage or improper collection and use of user informationIndividual payment institutions have taken risks to provide channels for the transfer of funds for illegal and criminal activities such as telecommunications network fraud and cross-border gambling. In particular, the stubborn problem of fraud in Myanmar is being solved, and it is necessary to establish and improve regulations for non-bank regulators.
In terms of protecting the rights and interests of users, which our users are most concerned about, the previous non-bank payment institutions have not done enough. For example, WeChat, many users complain that WeChat payment can not easily find customer service, and if you encounter problems in the freezing of funds, you cannot solve them in a timely and effective manner. I have the impression that some businesses were blocked because of WeChat, and their capital turnover was not effective, so they took on additional debts and chose to jump off Tencent's high-rise buildings and end their lives.
But what few people know is that although Alipay has customer service, if your funds are frozen, when you make an appeal, the mobile phone number of the frozen funds is automatically blocked by Alipay, and you can only find robot customer service, not manual customer service. The trick is to change a mobile phone number to call, find a manual customer service to appeal, although there is a high probability that you will receive excuses such as "this is our system automatic detection" "we will not conduct manual review", but if you can not solve the complaint after the appeal, you can complain to the People's Bank of China, if you do not violate the rules, the account will be unfrozen quickly. The losses incurred during this period can also be reasonably and legally required to be compensated by the other party
Add ** note, no more than 140 words (optional) The promotion of this national policy can be regarded as making up for the lack of supervision to a certain extent. It is hoped that the legitimate rights and interests of users can be effectively protected, and the phenomena such as setting traps to collect biological information and lack of customer service in the process of using the APP can be improved as soon as possible.