Core Points - The People's Bank of China (PBOC) Shenzhen Branch imposed a fine of 3.695 million yuan on LeShua Payment Technology Co., Ltd. for violations of clearing management and merchant management regulations, along with the confiscation of illegal gains amounting to 741,685.22 yuan [1] - A former employee of LeShua Payment, identified as Shu, was fined 15,000 yuan for being responsible for the company's violations related to merchant management [1] - LeShua Payment holds payment processing licenses for both Class I and Class II transactions, which are valid until July 2, 2025 [1] Regulatory Compliance - According to Article 30 of the Non-Bank Payment Institutions Supervision Management Regulations, non-bank payment institutions must process payment business through clearing institutions designated by the PBOC and adhere to clearing management regulations [2] - Non-bank payment institutions are required to submit accurate and complete transaction information to clearing institutions and manage funds settlement in accordance with settlement management regulations [2] - In March of this year, LeShua Payment was fined 4.4501 million yuan for similar violations, including failure to conduct due diligence on outsourced service providers [2]

Core Insights - In July and August of this year, UnionPay and Wanglian processed a total of 276.996 billion payment transactions, amounting to 151.66 trillion yuan, representing year-on-year growth of 14.59% and 16.64% respectively [1] Group 1 - The total number of payment transactions processed by UnionPay and Wanglian reached 276.996 billion [1] - The total transaction amount was 151.66 trillion yuan [1] - Year-on-year growth rates for transaction volume and amount were 14.59% and 16.64% respectively [1]