Core Insights - The company has become the largest online retail payment clearing entity globally after over seven years of development [1] - The platform processed over 1 trillion payment transactions in 2024, amounting to 520 trillion yuan, with peak cross-institutional network payment transactions reaching 110,000 transactions per second on New Year's Eve 2025 [1] - The company emphasizes its core mission of serving the real economy, connecting over 3,000 commercial banks and payment institutions [2] Group 1 - The platform's system success rate, fund clearing accuracy, and core application system availability have consistently maintained 100% [1] - Since 2024, the industry-wide joint pressure testing system success rate has increased from 95.27% to over 99.99%, with commercial banks' high concurrency processing capability improving by over 40% [1] - The company has established a professional anti-fraud team and a risk information sharing mechanism, utilizing machine learning and knowledge graphs for efficient risk information sharing and interception [1] Group 2 - In the rural finance sector, the platform processed an average of 175 million transactions per day from January to May 2025, a year-on-year increase of 12.87% [2] - The company has launched innovative products like "convenient signing" and "one-click clearing" to enhance payment experiences for the elderly and improve tax payment convenience [2] - The company actively expands cross-border payment services, with total transaction numbers for two innovative products reaching 379 million and amounts totaling 60.439 billion yuan from 2019 to May 2025 [2] Group 3 - The platform has constructed a distributed cloud computing architecture with a processing capacity exceeding 300,000 transactions per second and an average transaction time of 200 milliseconds [3] - A five-layer disaster recovery system has been established to ensure business continuity amid high transaction volumes [3] - The company plans to focus on its primary responsibilities and roles as part of the national financial infrastructure [4]

Core Viewpoint - The article highlights the achievements and advancements of the Network Clearing Company in enhancing financial services and digital transformation in China, particularly in the context of payment systems and risk management. Group 1: Company Achievements - The Network Clearing Company has become the largest online retail payment clearing entity globally, processing over 1 trillion transactions and 520 trillion yuan in transaction value in 2024 [1] - On New Year's Eve 2025, the platform achieved a record of 110,000 cross-institutional network payment transactions per second, maintaining a 100% success rate in system performance and fund clearing accuracy [1] - The company has connected over 3,000 commercial banks and payment institutions, covering various types of financial entities [2] Group 2: Industry Impact - Since 2024, the industry-wide system success rate has improved from 95.27% to over 99.99%, with commercial banks enhancing their processing capabilities by over 40% [2] - The average processing time across the entire network has decreased by 30%, indicating significant improvements in operational efficiency [2] - The platform has strengthened the rural financial market, with an average daily transaction volume of 175 million for rural financial institutions in the first five months of 2025, a year-on-year increase of 12.87% [2] Group 3: Cross-Border Services - Since 2019, the company has launched cross-border services, focusing on compliance and risk control, providing transaction transfer and fund clearing services for domestic and foreign payment institutions [2] - The "external card binding" and "external package internal use" services have seen a total of 379 million transactions and a transaction value of 60.439 billion yuan from 2019 to May 2025 [3] - In May 2025, these services achieved an average of 1.2193 million transactions per day, with a transaction value of 16.997 million yuan, reflecting year-on-year growth of 185% and 135% respectively [3]

Core Viewpoint - The China Payment and Clearing Association emphasizes the importance of ensuring business continuity in payment and clearing services during peak marketing periods, particularly the "618" shopping festival, while addressing potential risks from extreme weather events [1] Group 1 - The association has issued a reminder for payment service providers to prioritize business continuity management [1] - There is a focus on preparing for risks associated with extreme weather, such as flooding and typhoons, which could lead to network outages and hardware/software failures [1] - The call to action aims to ensure the smooth operation of payment services during high-demand periods [1]

Core Viewpoint - The release of the "Registration Management Norms for Acquiring Outsourcing Service Institutions" and "Evaluation Management Norms for Acquiring Outsourcing Services" by the China Payment and Clearing Association aims to enhance self-regulation and promote the healthy development of the acquiring outsourcing service market [1][2]. Group 1: Registration Norms - The "Registration Norms" consists of eight chapters and thirty-four articles, detailing the purpose, scope, and principles of registration, as well as the conditions and materials required for registration [2][3]. - It specifies the management measures and self-discipline penalties for licensed institutions and outsourcing institutions, emphasizing data security and confidentiality [2][3]. - As of June 11, over 35,000 acquiring outsourcing institutions have completed registration, involving more than 740 aggregation payment institutions [1]. Group 2: Evaluation Norms - The "Evaluation Norms" includes six chapters and thirty-nine articles, outlining the requirements for information registration, risk information management, and self-discipline evaluation [3][4]. - It establishes standards for risk information sharing and blacklisting management, as well as the rules and processes for self-discipline evaluation [3][4]. - The evaluation results will serve as an important reference for assessing outsourcing institutions, with a focus on compliance and operational transparency [5]. Group 3: Industry Impact - The new norms are expected to shift the outsourcing market from "scale expansion" to "compliance capability competition," potentially increasing industry concentration [3][4]. - The association plans to strengthen management across the entire process of acquiring outsourcing services, ensuring fair and orderly market conditions [4][5]. - Enhanced regulations are anticipated to improve payment service levels and efficiency, while also safeguarding consumer rights [5].

Core Viewpoint - The China Payment and Clearing Association has released the "Record Management Specification for Acquiring Outsourcing Service Institutions" to enhance self-regulation in acquiring outsourcing services, mitigate risks, and promote healthy market development [1][2] Group 1: Regulatory Framework - The "Record Management Specification" consists of eight chapters and thirty-four articles, covering general principles, application for record, information review and public disclosure, information management, cancellation of records, dispute handling, and disciplinary measures [1] - The specification clarifies the purpose, basis, scope of application, prerequisites for business operations, and principles for record-keeping [1] Group 2: Compliance and Management - It specifies the conditions for outsourcing institutions to be recorded, the required information and documentation, review standards, timelines, and circumstances under which records may be denied or rejected [1] - The specification outlines the requirements for changes in recorded institution information, data reporting, voluntary withdrawal processes, and circumstances for record cancellation by the association [1] Group 3: Risk Management and Self-Regulation - It emphasizes the management measures and self-discipline penalties for licensed institutions and outsourcing entities in violation of regulations, highlighting data security, confidentiality management, and work discipline [1][2] - The specification serves as a supporting self-regulatory framework for the "Self-Regulatory Management Measures for Acquiring Outsourcing Services," ensuring the practical implementation of the measures and promoting a standardized and healthy development of the acquiring outsourcing service market [2]

Core Viewpoint - The new regulations issued by the China Payment and Clearing Association aim to address long-standing issues in the acquiring outsourcing market, such as illegal subcontracting and information leakage [2][4]. Group 1: Regulatory Changes - The new regulations include the "Acquiring Outsourcing Service Institution Filing Management Specification" and the "Acquiring Outsourcing Service Evaluation Management Specification" to enhance compliance and self-regulation in the acquiring outsourcing market [7]. - The regulations emphasize a "pre-filing before business operation" approach to ensure orderly and compliant outsourcing services [7]. - The regulations outline 30 types of risky behaviors, including illegal operations, money laundering, and fraudulent activities, which will be closely monitored [7]. Group 2: Industry Risks - The acquiring outsourcing service sector has been plagued by various risks, including aggressive marketing tactics and fraudulent practices, leading to significant financial losses for merchants [5][6]. - Some outsourcing institutions have been found to register fake merchants and manipulate transaction data to gain market share, raising concerns about regulatory evasion and market disruption [5][6]. - The misuse of technology by some payment service providers has created a breeding ground for illegal activities, including money laundering and cash-out schemes [6]. Group 3: Future Outlook - The implementation of the new regulations is expected to accelerate industry differentiation, favoring institutions with strong compliance and technological capabilities [11]. - The regulatory environment for the payment clearing industry is becoming increasingly stringent, with various management measures being introduced to combat illegal activities [10]. - While the industry may face short-term challenges, the long-term outlook suggests that compliant and technologically advanced institutions will dominate the market, leading to a safer and more efficient payment ecosystem [11].

Core Viewpoint - The China Payment and Clearing Association has introduced two new regulations to enhance self-regulation in the acquiring outsourcing service sector, aiming to standardize practices, mitigate risks, and promote healthy market development [1][2]. Regulation Details - The newly released regulations include the "Filing Management Regulations for Acquiring Outsourcing Service Institutions" and the "Evaluation Management Regulations for Acquiring Outsourcing Services," which will take effect immediately [1]. - These regulations serve as supplementary self-regulatory norms to the "Self-Regulatory Management Measures for Acquiring Outsourcing Services," clarifying the specifics of filing, information registration, risk information sharing, blacklist management, and self-evaluation [1][2]. Risk Management - The "Evaluation Regulations" outline risk types, levels, information sharing, and blacklist management standards, identifying 30 types of risk behaviors, including illegal activities such as money laundering and fraud [3][4]. - The regulations categorize risks into three levels based on the nature and severity of violations, establishing a framework for risk information sharing and management [3][4]. Self-Evaluation Mechanism - The self-evaluation mechanism includes rules, standards, and processes for evaluating outsourcing service institutions, with licensed institutions required to score their partner outsourcing institutions based on established criteria [4][5]. - The evaluation process has been streamlined to reduce the time from data collection to feedback, potentially shortening the cycle to weeks instead of months [5]. Filing Management - The "Filing Regulations" specify the types of outsourcing services that institutions can apply for, including merchant services and transaction information transfer, while emphasizing data security management [6][7]. - Institutions must adhere to legal responsibilities regarding data security, establish independent technical architectures, and implement measures to prevent data breaches [6][7]. Future Directions - The China Payment and Clearing Association plans to enforce the new regulations rigorously, focusing on comprehensive management of the acquiring outsourcing service process to maintain a fair and orderly market [7]. - The association aims to enhance transparency in the outsourcing service market, ensure timely registration of partner institutions, and facilitate the exit of non-compliant entities from the market [7].

Core Viewpoint - The China Payment and Clearing Association has introduced new regulations to enhance self-regulation in the acquiring outsourcing service sector, aiming to standardize payment outsourcing practices and mitigate risks associated with acquiring services, thereby promoting a healthy development of the payment service market [1] Group 1 - The newly released regulations include the "Regulations on the Filing Management of Acquiring Outsourcing Service Institutions" and the "Regulations on the Evaluation Management of Acquiring Outsourcing Services" [1] - These regulations will take effect immediately upon publication [1]

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]

据中国人民银行消息，2025年端午假期（5月31日至6月2日），银联、网联共处理支付交易140.5亿笔、 金额4.8万亿元，较去年端午假期（2024年6月8日至10日）分别增长13%、3.4%。其中，处理境外来华 人员支付交易笔数、金额较去年同期分别增长118.6%和58.8%。 ...