Payment institutions business back to basics

The central bank will cancel the customer deposit account

In December 2018 06, 04:44 source: People's daily

Beijing newspaper (reporter Ge Mengchao) in December 5, the central bank payment and settlement secretary before the date issued "the people's Bank of Chinese on payment and settlement division revoked the RMB payment institutions customer deposit accounts related work notice" requirements, Payment institutions can realize the collection and payment and other related business and network relying on the bank clearing platform, should be in January 14, 2019 before the revocation the opening in the reserve bank RMB customer deposit account, keep account except the provisions.

Notification requirements, Payment institutions should formulate feasible plans to cancel, and deposit bank to communicate clearly closing time, guarantee payment business continuity. Deposit in the bank deposit account cancellation process should check the accounts, to ensure that the account is clear, customer deposit account and in the process of accepting full security.

Notification requirements, the people's Bank branch should strengthen monitoring and supervision of Payment institutions to cancel the implementation of the plan, not in accordance with the plan to withdraw the account, required to pay agency one by one to specify the reasons for irrevocable and solution for cancellation without undue delay time, should increase the relevant payment institutions and relevant reserve bank examination and supervision strength.

The financial China Academy of Social Sciences Research Center of the payment and settlement guest researcher Zhao Yao believes that the "part of the payment mechanism is not in the rich pay scenes, convenient financial services efforts, but the illegal misappropriation of clients' reserves were high risk investment activities, absorb excess reserves into their bigger scale target customers. The central bank has prepared to pay the gold deposit concentrated long-term system, is to rely on to remove part of the payment mechanism for customers to deposit, the payment institutions concentrate on improving customer payment experience, make payment agency business back to basics."

"People's Daily" (06 December 2018 10 Edition)
(commissioning editor: Bai Yu)

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