Recently, China's payment industry ushered in a major change, the "2021 259 Document" issued by the People's Bank of China stipulates that the one-machine-one-household policy will be fully implemented by the end of December 2023. The core content of this policy is that a POS machine can only correspond to one merchant, each merchant can only have one POS machine, and each POS machine can only be bound to one settlement account. The full implementation of this policy aims to strengthen the management of merchants and standardize the market order.
The implementation of this policy has brought a series of challenges and discomforts to POS machine users. Under the system of one machine and one household, each card transaction can only be associated with one merchant, which undoubtedly brings inconvenience to users. Even if banks stop sending risk-controlled SMS frequently, users will feel insecure because of the restriction of only one merchant. However, the motivation behind this policy, from the perspective of strengthening merchant management and regulating market order, can be understood as a positive measure of the central bank in ensuring financial security and orderly market development.
In the face of this policy, Payment** proposed an innovative solution, namely an online card app, commonly known as mobile POS. The core idea of this solution is to transform the mobile phone into a POS machine through a mobile phone application to realize credit card payment. Compared with the traditional physical POS machine, the online card APP has more significant advantages, the most prominent of which is the simplicity and convenience of use.
Many banks have already reminded cardholders to use fast and easy online transactions in their credit card apps. In this context, the emergence of online card apps provides users with a solution that eliminates the need to handle multiple POS machines one by one. Users only need to complete the relevant settings through the mobile app, and they can easily realize card payment, eliminating the cumbersome and inconvenience caused by the one-machine-one-household policy.
It is worth noting that online card swiping apps are not only a solution to the policy, but also a reflection of the current payment trend. Many banks have long restricted offline credit card transactions, or even reduced or canceled offline credit card points. In this case, online credit card has become a more convenient, fast and secure way to pay. Through the online card app, users can complete the payment on their mobile phones, achieving a payment experience comparable to that of online swiping, as if they are shopping online.
Overall, the implementation of the new central bank regulations has undoubtedly had a profound impact on the payment industry. In the face of policy adjustments, the innovative online card app provides users with a flexible and efficient payment method. This new payment method not only helps users adapt to the new policy, but also fits the current development trend of payment methods, bringing new possibilities to the payment industry.