Core Viewpoint - The People's Bank of China has released a draft for public consultation to amend four regulatory documents, including the "Electronic Payment Guidelines," to adapt to the rapid development of digital payments and market maturity, aiming to enhance the flexibility of financial institutions in pricing and to transition the payment system from "small-scale convenience" to "full-scenario coverage" [1][6]. Group 1: Adjustments in Electronic Payment - The amendments include the removal of transaction limit regulations, allowing financial institutions to set their own limits based on risk management, which previously restricted individual online payments to a maximum of 1,000 yuan and daily accumulations to 5,000 yuan [3][4]. - The guidelines emphasize the need for banks to handle customer disputes promptly and responsibly, encouraging resolution through mediation and arbitration to better protect user rights [3][6]. Group 2: Changes in Credit Card Business - The removal of upper and lower limits on overdraft interest rates allows issuing institutions to determine their own pricing based on customer credit status, enhancing pricing flexibility [4][8]. - The requirement for issuing institutions to publicly disclose credit card application conditions and fees has been eliminated, along with the obligation to report interest rate changes to the central bank, reducing administrative burdens [4][9]. Group 3: Implications for Consumers and Financial Institutions - The adjustments are expected to enhance payment convenience and personalized services for consumers, particularly benefiting large transactions such as real estate purchases and cross-border e-commerce [6][9]. - Financial institutions will gain greater operational flexibility and innovation opportunities, allowing them to develop customized payment products and adjust pricing strategies based on customer risk profiles [8][9]. - The changes are aligned with the government's goal to stimulate consumption and expand domestic demand, potentially invigorating the digital finance sector, although the ultimate impact will depend on the implementation details and market feedback [9].