Core Viewpoint - The payment industry is undergoing significant changes to comply with new regulations, as evidenced by the recent rebranding and capital increase of Beijing Youzan Payment Co., Ltd, formerly known as Beijing Gao Huitong Commercial Management Co., Ltd [1][3]. Company Summary - Beijing Youzan Payment has changed its name and increased its registered capital from 150 million to 200 million yuan, aligning with the regulatory requirements set forth by the People's Bank of China [1][2]. - The company was established in August 2008 and has held payment licenses since June 2012, expanding its operations to multiple regions and adding internet payment capabilities [2][3]. - As of June 2025, the company will cease its prepaid card operations, retaining only the first category of stored value account operations [2][3]. Industry Summary - The implementation of the Non-Bank Payment Institutions Supervision and Management Regulations has prompted a wave of changes among payment institutions, with over 30 companies approved for various modifications since the start of 2025 [4]. - Currently, more than 80 payment institutions have names that do not comply with the new regulations, with 36 still lacking the word "payment" in their names as of July 13 [4]. - The industry is expected to continue experiencing consolidation and transformation, with companies focusing on expanding their services and exploring new business opportunities, including technological innovations and international expansion [5].