UnionPay has new rules for, you have to be careful! -UnionPay, acquiring market-IT information
UnionPay has new rules for, you have to be careful!

Violations against the acquiring market chaos, which shot up again.

On December 4, which convened over more than 50 member institutions read the upcoming revised implementing rules of the UnionPay cards accepted market constraints, which come before the rule is 2-5.

Enforcement is 2-5 times before, specifically where?

Old 5th article minimum constraint amounting to 25,000 yuan, new 5th, it will be raised to 50,000 yuan; illegal trading calculation period from 180 days to 1 year, added a reconsideration, and on-site verification procedures.

In addition, applied merchant category code, apply special billing marking behavior, classification form of punishment. Added-illegal means and systematically altered trading irregularities, once identified, will start the penalty measures to restrain, for breach of standard single 1 million Yuan.

Meanwhile, increased the penalties for violations, some further rectification period serious irregularities.

And new 5th card issuing companies for the first time into the scope of restriction, meaning that banks will be fined for violation, once the penalty acquirers, are part of the POS machine bodies.

UnionPay planned from 2015 onwards of this new regulation, increase penalties on the one hand, contain all kinds of UnionPay card acquiring irregularities; the other hand wants to promote outsourcing service providers survival of the fittest, "eliminating one group, integration, and development of a group of" UnionPay palatable.

Not only to introduce the provisions of stringent reorganization acquirers, UnionPay has also developed a new weapon--the opening of "UnionPay Sun single platform."

What is the platform? Consumers after the brush UnionPay card spending you can print receipts or statements on this platform, if you find that the consumer and the merchant does not match the actual operating situation, China UnionPay will give hundreds of Yuan for rewards.

This trick is really think China UnionPay is high. The power of mass mobilization, many directed at the Bill rewards consumers will go to finger print receipts, but also are eyeing the competitive antagonist.

The Grapevine, the platform was launched on December 2, accumulated Sun received 853, verified violations 301, which saved around its UnionPay at 85. Sun did not know how many of these are consumers, how much is industry oversight Sun, acquirers really be careful in the future anyway.

This series of initiatives by the industry are called "the toughest in the history of" UnionPay card regulatory policy mix. UnionPay shot multiple times this year reorganized acquiring market, regularly heard the Cup seal, penalty that has also been paid to some third party junior partner's complaint.

Blame mainly said China UnionPay are both regulators and players using administrative means to suppress the peer, but didn't do much to justify for some irregularities.

That Union pay what is for what?

First of all, acquiring market really is such a mess, is the whole entire. Merchant fraud, cash forged business licenses in bulk, front photos and other business information. "Violence" robbed other institutional development of POS merchant, acceptable at lower rates.

The result is, that day my credit card in a restaurant, and wife an audit, how consumer businesses into a nightclub? No way with his wife to report!

Second, more important of point is, UnionPay increasingly was market bad do has, immediately market to opening has, second, and third a UnionPay are ready has, UnionPay needs in has new of competition opponents zhiqian straighten out relationship, UnionPay as card organization to tree Granville, other international card organization on network institutions of constraint range more wide, and efforts more big, and and does not bargain, punishment efforts cengcengjiama.

The crackdown has been recognized by regulators at least.

Fan Shuangwen, Deputy Director of the Central Bank payment and settlement division publicly before:

As a platform provider and maintainer of China UnionPay, for the maintenance of the entire system up and running, you must develop a series of platform rules and supervision and participation in the implementation of, compliance with these rules. If some institutions fail to comply with this rule, it will harm the interests of other subjects of the market. Therefore, China UnionPay has an obligation to make corrections for such acts.