Allegedly escaping! Another cross-border payment violation was punished, and the central bank required a full rectification!


Allegedly escaping! Another cross-border payment violation was punished, and the central bank required a full rectification!

According to the payment community, the SAFE recently imposed a penalty on Zhifu Electronic Payment Co., Ltd. (hereinafter referred to as “Smart Payment”), and the penalty date was April 28, 2018. The payment of violations involving intellectual property payment includes: violation of foreign exchange account management rules, evasion of foreign exchange, failure to submit financial accounting reports, statistical statements, and other information as required.

Allegedly escaping! Another cross-border payment violation was punished, and the central bank required a full rectification!

It is understood that evasion is a company, business or other entity , In violation of state regulations, unauthorized deposit of foreign exchange abroad, or the illegal transfer of foreign exchange within the territory, serious acts. The object of the infringement of this crime is the country’s foreign exchange management system.

Escape Avoidance

1. Violating national regulations and arbitrarily storing foreign exchange abroad;

2. Not in accordance with the country Requires the sale of foreign exchange to designated foreign exchange banks;

3. Remittance of foreign exchange into or out of the country in violation of state regulations;

4. Foreign currency is not authorized without the approval of the foreign exchange administration department. Deposit certificates, foreign currency securities are carried or mailed out of the country;

5. Knowing that they are using for evasion to provide RMB funds or other services;

6. Escape in other ways of.

Zhifu payment is in violation of regulations or is illegal payment channels. According to Zhifu payment official website, Zhifu Electronic Payment Co., Ltd. was established in 2007 with a registered capital of 101.11 million yuan, which is the Zhifu Technology Group. Holding a leading third-party payment company in China. In 2012, Zhifu won the “Payment License” issued by the People’s Bank of China. In 2015, it was awarded the pilot qualification of the Foreign Exchange Bureau’s cross-border foreign exchange settlement business. It is one of the 27 financial institutions with cross-border payment qualification in China. In 2017, the People’s Bank of China decided to apply for the renewal of “Payment License” for the fourth batch of 93 non-bank payment institutions, and Zhifu Electronic Payment Co., Ltd. successfully renewed the exhibition.

Violation of Payment Path Breach of Central Bank Corrections


According to the payment community, Zhifu Payment was allegedly Hong Kong Cheung Kong Gold, AoWo, Hong Kong Tian Fu Bao, Hong Kong Founding Feng, Hong Kong Cathay Pacific Gold A number of illegal online trading platforms, such as foreign exchange and precious metals, provide payment and settlement services.

The payment by Zhifu has been a serious violation of the "Administrative Measures on Network Payment Services of Non-bank Payment Institutions": People's Bank of China Announcement No. 43, 2015, Articles 8, 10, and 11 And the “Anti-money Laundering Law” and “Notice of the General Office of the People's Bank of China on Closing the Provision of Payment and Settlement Services for Violation of Trading Sites within a Time Limit”, Yin Banfa (2017) No. 35, and other related regulations.

According to the “China Business” report, the Shenzhen Branch of the People’s Bank of China has requested the suspension of new business development by the end of December 2017 and made a complete stop of the payment of Zhifu Payment on March 7, 2018. A fine of RMB 30,000 was imposed on the administrative penalty, but it has not yet been publicized on the Central Bank official website. Zhifu Payment told reporters that the company took the initiative to stop the business with the Central Bank Shenzhen Branch, and is currently doing the rectification and study in accordance with the regulations of the Shenzhen Branch of the People's Bank of China.

Who is the next smart payment?

Since 2017, the central bank has banned payment agencies from pursuing POS2 clearance and illegal payment channels, and the central bank has penalized several payment agencies. Xiao Bian learned that a large number of payment agencies will come in May-June.

The small and medium-sized online payment agencies have been detached from the grey area. According to the Xiaobian section of the payment industry, small and medium-sized institutions are short of money, lack business scenarios and have high operating costs. They can only profit by providing illegal channels. The payment industry Xiaobian interviewed several industry professionals. The result is that the industry is too competitive and it is helpless. Some institutions under the central bank’s strong pressure have claimed that they have completely shut down illegal payment channels.

According to payment industry sources, in 2018, the central bank will ban serious third-party payment companies that violate laws and regulations and pay the industry an alert. It is not yet known whether the payment license will be cancelled. Of course, smart payment will not be the first one, it will not be the last one! So guess who is the next smart payment? Welcome to discuss the message.

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