Core Insights - The third-party payment acquiring outsourcing service market is experiencing a significant exit of institutions, with 2,280 institutions having their registrations invalidated as of May 21 [1][3][4] - The invalidation of registrations is attributed to compliance issues and a shift in focus towards core payment operations, leading to a lack of actual engagement in acquiring outsourcing services [4][6][7] Group 1: Registration Status - A total of 32,356 institutions have successfully registered for acquiring outsourcing services, with 22,280 institutions having invalidated registrations [1][3] - Among the invalidated registrations, 2,084 institutions can no longer conduct merchant recommendation services, while 1,046 cannot perform acceptance mark posting, and 1,522 are unable to maintain merchant services [3][5] Group 2: Regulatory Environment - The China Payment and Clearing Association has implemented various regulations, including the "Management Measures for the Registration of Acquiring Outsourcing Service Institutions," to enhance compliance and management within the industry [6][7] - The regulatory framework emphasizes that institutions must maintain compliance to avoid invalidation of their registrations, reflecting a trend towards stricter oversight in the acquiring outsourcing market [6][7] Group 3: Industry Trends - The industry is witnessing a consolidation trend, with a focus on compliance and the establishment of higher entry barriers for new players, which may accelerate the concentration of leading firms [6][7] - The ongoing evolution of the payment industry necessitates that registered acquiring outsourcing institutions prioritize compliance and high-quality service delivery to small and micro merchants [7]