从“备选”到“必选”，互联网平台竞相入手支付牌照

Core Insights - The recent trend of internet platforms acquiring payment licenses is intensifying, with companies like Xiaohongshu, Tongcheng, and 58.com making significant moves in this space [1][2][3] - Following these acquisitions, compliance challenges are emerging, particularly as many acquired entities face operational weaknesses and increased scrutiny from regulators [1][6] Group 1: Acquisition Activities - Xiaohongshu's subsidiary Ningzhi Technology has fully acquired Dongfang Payment, a licensed payment institution since 2011, with a license valid until May 2026 [2] - Tongcheng Group's subsidiary, Yilong, acquired 100% of Xinsheng Payment for approximately 300 million yuan, increasing its registered capital to 330 million yuan [2] - 58.com purchased 70% of Shengya Yunding Payment for 23.85 million yuan, achieving full control through prior share pledges [2] - Douyin and Kuaishou have also made earlier acquisitions, with Douyin significantly increasing its registered capital from 150 million yuan to 3.15 billion yuan [2] Group 2: Capital Increases - Douyin Payment increased its capital by 3 billion yuan earlier this year, while Tencent's Tenpay raised its capital to 22.3 billion yuan [3] - JD's online banking service also raised its registered capital to 1.5 billion yuan, and Vipshop Payment increased its capital from 100 million yuan to 200 million yuan [3] Group 3: Strategic Importance of Payment Licenses - Internet platforms are increasingly viewing payment licenses as essential strategic assets rather than optional [4] - The growing complexity of business models necessitates a self-owned payment system to maintain transaction stability and compliance [4][5] - The new regulatory framework starting in 2024 emphasizes the need for platforms to hold licenses directly, reducing reliance on third-party payment processors [4] Group 4: Compliance Challenges - The central bank has tightened the review process for payment license renewals, with several institutions facing challenges due to historical weaknesses and insufficient technical investment [6][7] - In 2023, the central bank has already canceled 7 payment licenses, indicating a stricter regulatory environment [6] - The need for robust compliance measures across various operational aspects is emphasized, including customer identity verification and transaction monitoring [7]