Core Viewpoint - The China Payment and Clearing Association has released two new regulations, the "Record Management Specification for Acquiring Outsourcing Service Institutions" and the "Evaluation Management Specification for Acquiring Outsourcing Services," aimed at promoting the standardized and healthy development of the acquiring outsourcing service market [1][4]. Group 1: Regulations Overview - The two specifications clarify the registration, information management, risk information sharing, blacklist management, and self-discipline evaluation processes for outsourcing institutions [1][4]. - The "Evaluation Specification" consists of six chapters and thirty-nine articles, detailing the self-discipline norms, registration requirements, risk information management, evaluation standards, and disciplinary measures for non-compliance [2][3]. Group 2: Risk Management - The "Evaluation Specification" identifies 30 types of risk behaviors, including administrative penalties for illegal operations, involvement in money laundering, and frequent changes in cooperation with licensed institutions [3]. - Risk levels are categorized into three grades based on the nature and severity of violations, with clear standards for blacklist management and risk information sharing [3]. Group 3: Implementation and Future Steps - The association plans to enforce the new regulations strictly, enhancing the management of acquiring outsourcing services throughout the entire process to maintain a fair and orderly market [6]. - The focus will be on improving transparency in the outsourcing service market, ensuring licensed institutions fulfill their management responsibilities, and facilitating the exit of illegal outsourcing institutions [6]. Group 4: Industry Impact - The new regulations are expected to accelerate industry reshuffling, particularly affecting high-risk small outsourcing institutions, thereby addressing issues of hollowing out in third-party payment channels [3][6]. - Long-term, institutions with strong compliance capabilities and high technical standards will gain more business opportunities, shifting the competition from price to compliance and technology [7].

Core Points - The China Payment and Clearing Association has released two new regulations: the "Record Management Specification for Acquiring Outsourcing Service Institutions" and the "Evaluation Management Specification for Acquiring Outsourcing Services," effective immediately [1] - The regulations aim to address long-standing issues in the acquiring outsourcing market, such as illegal operations, gambling, fraud, and risk transmission, by enhancing transparency and risk control capabilities [1][4] - The evaluation specification outlines 30 types of risk behaviors and categorizes risks into three levels, establishing a blacklist management standard and information sharing requirements [4][5] Group 1 - The "Evaluation Specification" clarifies the requirements for licensed institutions to register information about cooperating outsourcing institutions, including risk types and levels [4] - The regulations emphasize the importance of data security and confidentiality management, requiring outsourcing institutions to establish independent and secure technical architectures [2][3] - The regulations will lead to an accelerated industry reshuffle and higher entry barriers, shifting the focus from price competition to compliance and technology [1][4] Group 2 - Acquiring institutions must terminate cooperation with non-compliant outsourcing institutions within 20 working days if the evaluation results are unsatisfactory [4] - The regulations require licensed institutions to verify the risk information of outsourcing partners before collaboration and report any risk behaviors within five working days [5] - The blacklist sharing mechanism aims to collectively penalize non-compliant institutions, increasing the cost of violations and ensuring their exit from the market [5]