Strictly control credit card cashing! AliPay, Tenpay and other institutions plus code →

　　Recently, many banks have strictly controlled the flow of funds, and several payment institutions have also stepped up their efforts to curb credit card cashing.

　　On September 1st, beijing business today reporters learned from various interviews that many payment companies, including Tenpay, Alipay, Zhongjin Payment, Jialian Payment and Fu You Payment, are further strictly controlling the flow of credit card funds. On the one hand, they strictly implement the real-name management of merchants in advance, realize real-time monitoring, identification and interception of transaction risks in the process, and will also take zero-tolerance treatment for high-risk merchants who cash out afterwards.

　　The whole process of containment before and after the event.

　　Just now, the head payment institution has issued a notice.

　　On September 1st, beijing business today reporter noticed that WeChat Pay Merchant Link issued an initiative on further strengthening credit card business risk prevention and control, saying that in order to strengthen credit card business management and prevent credit card business risks, all partners should earnestly fulfill the main responsibility of merchant management and put credit card business risk control measures throughout the whole life cycle of merchant management.

　　At the same time, all partners need to further strengthen the monitoring, analysis, identification and control of abnormal transactions such as credit card cashing, and actively verify and dispose of merchants and transactions suspected of cashing and other risks, and submit them according to laws and regulations; In addition, it is also necessary to strictly control the flow of credit card funds and strengthen the management of credit card transaction quotas of merchants.

　　Image source: WeChat payment merchants

　　In addition to WeChat payment, on September 1, Alipay also told beijing business today that it had taken life-cycle risk prevention and control measures to strengthen the management of illegal transactions such as credit card cashing from various aspects such as merchant access and transaction monitoring.

　　Specifically, first of all, Alipay implements the real-name management of merchants in strict accordance with the regulatory requirements, establishes a special risk strategy for the illegal cashing characteristics of credit cards, realizes real-time monitoring, identification and interception of transaction risks, and establishes an identification and attack plan for cashing platforms.

　　"For the cash-out risk merchants inspected, we will take corresponding punishment measures such as blocking transactions, limiting or closing credit card channels, prohibiting the inflow and outflow of account funds, delaying the settlement of funds, and retiring merchants according to the risk concentration and level." Alipay said.

　　In addition, Alipay will also carry out joint prevention and control with partners such as clearing institutions, payment institutions and banks on the risks of credit card cashing, and assist cooperative banks to identify and manage merchants better and faster by opening security products such as "RiskGo" to cooperative banking institutions, effectively preventing the occurrence of illegal risks such as credit card cashing.

　　In fact, whether online payment or offline receipt, many payment institutions have achieved remarkable results in strictly controlling credit card cashing. For example, the relevant person in charge of a payment company in Shanghai pointed out that by strictly controlling the access quality of special merchants in advance, it can confirm the business status and real willingness of merchants to access the network, implement the real-name registration system requirements of merchants, and ensure the authenticity, integrity and validity of merchants’ access information; At the same time, it will also carry out risk classification management for merchants entering the network and refuse to establish business relations with high-risk merchants.

　　"On the one hand, in the event, the risk control model can be used to monitor merchant transactions and intercept fraudulent transactions in real time. In addition, after the event, we will also strictly deal with risky merchants and adopt a zero tolerance policy for cashing in high-risk merchants. "
The relevant person in charge of the aforementioned Shanghai Payment Company added.

　　Even if the business scenario focuses on the online payment institution at the B end, it also checks the credit card cashing behavior. On September 1st, a person in charge of a payment institution company in Beijing also told beijing business today that it mainly focuses on B2B business, focusing on providing payment services for enterprises, with credit card transactions accounting for less than 2%. However, in terms of merchant access, the company will also limit the use of credit cards for payment only in consumer scenarios. There are strict requirements for payment limit, number of transactions, concentration (cardholder concentration, credit card transaction concentration), and refund (generally required to be returned the same way). In addition, a related monitoring model has been made for credit card cashing in transaction monitoring to monitor credit card transactions.

　　Su Xiaorui, a senior analyst in the financial industry of Analysys, said that these strict control measures of payment institutions are aimed at responding to the spirit of supervision and laying a good foundation for maintaining a healthy and good credit card market order; On the other hand, it is also conducive to its own internal risk prevention and control, thus further improving the quality of credit card transactions.

　　There are still difficulties in identifying cash transactions.

　　These prevention and control actions of payment institutions are inseparable from the Work Notice on Further Strengthening the Risk Prevention and Control of Credit Card Business issued by UnionPay in August. The Notice draws a "red line" for credit card business risk prevention and control from five aspects: earnestly fulfilling the main responsibility of merchant risk management, strictly regulating the authenticity management of merchants, further strengthening the transaction monitoring of cash-out risk, fully investigating and verifying suspected cash-out risk cases, and strengthening the control measures of cash-out risk merchants.

　　However, it should not be ignored that despite the layers of containment, there are still many violations in the market, and payment institutions have encountered many difficulties in the process of strictly controlling cash.

　　For example, employees of a payment company bluntly said that in the process of monitoring cash-out, the biggest difficulty is to judge the real transaction scene of merchants and the transaction behavior of cardholders. Many cash-out transactions are jointly participated by cardholders and merchants. It is easier to find pure cash-out merchants, but it is more difficult to find if normal transactions are mixed with cash-out transactions. In addition, it is easier to find a large amount of cash, and it is more difficult to detect a small amount of cash.

　　"Another real problem is that cash transactions are profitable for some institutions, especially offline acquiring institutions, so completely controlling cash transactions is not enough for payment institutions." This person mentioned.

　　The relevant person in charge of the aforementioned Shanghai payment institution said that the difficulty in strictly controlling cash-out transactions lies in products, and some products are easily used by risky merchants for cash-out or illegal transactions. To solve these problems, before the products are put on the market, the compliance and risk control departments should intervene to prevent the products from being used.

　　In addition, a person from a payment institution said that at present, some suspected cash-out transactions show evasive behaviors such as combining split transactions, alternating transactions in real scenes, and transactions with multiple payment methods, which makes it more difficult to identify and identify cash-out transactions.

　　"At present, there are two difficulties in the prevention of cashing."
Wang Pengbo, a senior analyst of Broadcom Consulting’s financial industry, further told the beijing business today reporter: First, there are many stakeholders in related industrial chains and there are realistic needs; Secondly, under the background of digital economy, non-bank payment institutions, especially those under the Internet platform, mostly serve small and micro businesses or individual operators, and generally face the problems of wide coverage and scattered business operations. In his view, this point is actually similar to the difficulties encountered in anti-money laundering. It is necessary to strictly implement the relevant regulations such as one machine and one yard, and use technical means to monitor.

　　"In fact, our company is also planning to increase the analysis of risky transactions and improve the monitoring parameters of risk control to intercept suspicious transactions more effectively." The aforementioned payment institution said.

　　Is still a protracted war.

　　The risk monitoring and prevention of credit card business is a protracted war for payment institutions.

　　In response to the follow-up measures, WeChat payment merchants generally said that they will continue to strengthen the risk monitoring and prevention of credit card business and improve the risk management and control mechanism. If it is found that the partners fail to effectively implement the regulatory requirements and the merchants have credit card transaction risks, corresponding measures such as adjusting the transaction amount and suspending cooperation will be taken according to the default and risk.

　　Alipay said that at present, it is also popularizing the risks and hazards of cashing out to special merchants and users through merchant service platform, Alipay Security Center, Ant Classroom and Alipay official Weibo. At the same time, organize online training from time to time to publicize typical cases, techniques and risk prevention measures of cash-out risks.

　　For the follow-up prevention and control, Wang Pengbo suggested that, first of all, payment institutions should strictly abide by relevant regulations, and all parties in the industrial chain should pay attention to and earnestly fulfill their responsibilities in preventing cash-out and anti-money laundering, such as the Notice on Strengthening the Management of Payment Acceptance Terminals and Related Services. It requires constraints such as one machine, one yard, five elements of acceptance terminals and receipt.

　　In addition, in the direction of institutional development, Wang Pengbo suggested that we should gradually expand income channels from a single source of income such as fees and rates to digital services of enterprises, and platform institutions such as WeChat, Alipay and UnionPay should play a guiding role, so as to fundamentally eliminate dependence on gray income such as cash.

　　Su Xiaorui said that in the follow-up, payment institutions still need to strengthen the authentication and identification of merchants, control the authentication mechanism of merchants from the source, and prevent unscrupulous subjects from fraudulently using the identity of merchants, which can not only prevent criminals from transferring funds by virtue of the identity of merchants, but also prevent consumers from facing the potential risk of capital loss in front of so-called "certified merchants", and continue to exert their efforts in consolidating compliance work such as anti-money laundering, building a strong security line, and creating a good shopping and consumption environment for financial consumers.

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　　Transferred from | beijing business today (Reporter Liu Sihong)