A few days ago, 17 third-party payment companies including Tenpay, Alipay, Remittance, Chongqing Yichao paid the company have received official approval from the State Administration of Foreign Exchange, becoming the first batch of pilot qualifications for cross-border e-commerce foreign exchange payment services. Business. The move marks a formal break in the cross-border e-commerce foreign exchange payment business of payment institutions, which has profound implications for cross-border e-commerce, trade in goods and personal consumption.
Strictly control the risk of hidden funds trading. He Qiang, a professor at the Central University of Finance and Economics, pointed out that the payment service of cross-border e-commerce in China has long been monopolized by foreign-funded payment institutions that have not obtained domestic payment service licenses, which has facilitated money laundering. Therefore, we should promote innovation in the payment industry as soon as possible and enhance the international competitiveness of Chinese payment companies. However, some experts have warned that after the trial of cross-border e-commerce foreign exchange payment business, third-party payment companies are expected to become a foreign exchange settlement tool for RMB exchange, but the risk of exchange of exchanges behind it must be cautious.
Industry insiders say that the underlying risk of cross-border payments is the issue of money laundering, so having a real trade background is key. The pilot guidance issued by the State Administration of Foreign Exchange on cross-border e-commerce foreign exchange payment services for payment institutions has been followed. For example, third-party payment is required to adopt a real-name authentication system for customers participating in cross-border e-commerce foreign exchange payment services, strictly verify the authenticity of customer identity information, and verify the authenticity and legitimacy of merchants for self-developed overseas special merchants.
In order to prevent customers from using cross-border payment for money laundering, the opinion requires third-party payment to report to the local foreign exchange bureau on a monthly basis the amount of the client's cross-border foreign exchange Internet payment amount, the number of transactions, the nature of the transaction, the country, etc., and the cumulative transaction amount per month. If the customer's transaction status exceeds the equivalent of US$200,000 and the cumulative high-frequency payment report is reported. If the verification is an abnormal transaction, the payment institution shall stop doing business for the customer.
It is worth mentioning that the opinions are also clear. Individuals who conduct cross-border Internet transactions in accordance with the law are not subject to the annual total amount. In principle, the single transaction amount must not exceed the equivalent of 10,000 US dollars.
“Hai Tao†is cheaper. The reporter learned that after the start of cross-border e-commerce foreign exchange payment, it has certain convenience for the public “Hao Taoâ€. Previously, domestic individuals who want to purchase foreign currency-priced goods on overseas partner merchant websites need to purchase the foreign exchange through the payment institution. Today, domestic customers shop on overseas websites, and third-party payments can be processed directly if cross-border payments are involved. Moreover, after the export enterprise registers with a third-party payment institution, the collection and settlement of foreign exchange will be more convenient and convenient.
For the public, the most direct benefit of the cross-border e-commerce foreign exchange payment business pilot is that “Hao Tao†is more convenient and cheaper, and the price is cheaper. “In the past, overseas shopping required the use of dual-currency cards such as VISA and MasterCard. The payment time may take 2~3 days. Now the customer pays the money to the domestic third-party payment platform, and the overseas seller can deliver the order after receiving the order.†According to bankers, this means that online individual sellers can directly trade with overseas buyers, while domestic consumers “Hai Tao†can also save costs by reducing the exchange rate and eliminating overseas card handling fees. It is conservatively estimated that the maximum fee for a single purchase can be reduced by about half, from the current 3% to 1.5%. The pos machine handles http://www.POSjipay.com/
Strictly control the risk of hidden funds trading. He Qiang, a professor at the Central University of Finance and Economics, pointed out that the payment service of cross-border e-commerce in China has long been monopolized by foreign-funded payment institutions that have not obtained domestic payment service licenses, which has facilitated money laundering. Therefore, we should promote innovation in the payment industry as soon as possible and enhance the international competitiveness of Chinese payment companies. However, some experts have warned that after the trial of cross-border e-commerce foreign exchange payment business, third-party payment companies are expected to become a foreign exchange settlement tool for RMB exchange, but the risk of exchange of exchanges behind it must be cautious.
Industry insiders say that the underlying risk of cross-border payments is the issue of money laundering, so having a real trade background is key. The pilot guidance issued by the State Administration of Foreign Exchange on cross-border e-commerce foreign exchange payment services for payment institutions has been followed. For example, third-party payment is required to adopt a real-name authentication system for customers participating in cross-border e-commerce foreign exchange payment services, strictly verify the authenticity of customer identity information, and verify the authenticity and legitimacy of merchants for self-developed overseas special merchants.
In order to prevent customers from using cross-border payment for money laundering, the opinion requires third-party payment to report to the local foreign exchange bureau on a monthly basis the amount of the client's cross-border foreign exchange Internet payment amount, the number of transactions, the nature of the transaction, the country, etc., and the cumulative transaction amount per month. If the customer's transaction status exceeds the equivalent of US$200,000 and the cumulative high-frequency payment report is reported. If the verification is an abnormal transaction, the payment institution shall stop doing business for the customer.
It is worth mentioning that the opinions are also clear. Individuals who conduct cross-border Internet transactions in accordance with the law are not subject to the annual total amount. In principle, the single transaction amount must not exceed the equivalent of 10,000 US dollars.
“Hai Tao†is cheaper. The reporter learned that after the start of cross-border e-commerce foreign exchange payment, it has certain convenience for the public “Hao Taoâ€. Previously, domestic individuals who want to purchase foreign currency-priced goods on overseas partner merchant websites need to purchase the foreign exchange through the payment institution. Today, domestic customers shop on overseas websites, and third-party payments can be processed directly if cross-border payments are involved. Moreover, after the export enterprise registers with a third-party payment institution, the collection and settlement of foreign exchange will be more convenient and convenient.
For the public, the most direct benefit of the cross-border e-commerce foreign exchange payment business pilot is that “Hao Tao†is more convenient and cheaper, and the price is cheaper. “In the past, overseas shopping required the use of dual-currency cards such as VISA and MasterCard. The payment time may take 2~3 days. Now the customer pays the money to the domestic third-party payment platform, and the overseas seller can deliver the order after receiving the order.†According to bankers, this means that online individual sellers can directly trade with overseas buyers, while domestic consumers “Hai Tao†can also save costs by reducing the exchange rate and eliminating overseas card handling fees. It is conservatively estimated that the maximum fee for a single purchase can be reduced by about half, from the current 3% to 1.5%. The pos machine handles http://www.POSjipay.com/
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