支付之家网获悉，上市公司并购支付产业链相关资产的案例再度出现。 根据最新披露的收购公告，上市公司广东天亿马信息产业股份有限公司拟通过发行股份及支付现金的方式，收购星云开物合计98.5632%股权。以评估基 准日测算，星云开物100%股权评估值约为12.1亿元，对应本次交易作价约11.89亿元。交易完成后，星云开物将成为上市公司天亿马的控股子公司。 合规方面，公告同时提到，标的公司已完成信息系统安全等级保护三级备案及测评，用于保障业务系统运行安全和数据合规要求。这也是收单外包服务机 构开展相关业务的重要基础条件之一。 从行业历史来看，非持牌支付相关主体被上市公司并购或投资的案例并非首次出现，但最终走向并不一致。 较早的案例是华峰超纤并购威富通科技。2016年，华峰超纤披露拟以约18亿元收购威富通100%股权。威富通主营移动支付软件及相关技术服务，属于支 付产业链中的技术与服务层，该交易被视为较早一批支付外围服务商被资本市场整合的案例。 | II 1ef1cb60b3c924c6c82595909b969d6e.pdf | 1 / 477 | - 100% + 日 の は ち さ | | | 한 글 " | | ...

Core Viewpoint - The Postal Savings Bank of China Qingdao Branch is actively addressing the financial needs of small and micro businesses in Qingdao by embedding financial services throughout their operational processes, thereby supporting their entrepreneurial aspirations [1][2][3] Group 1: Service Approach - The bank employs a "delicate approach" to build a comprehensive visiting network, ensuring that services are tailored to meet the specific needs of merchants rather than merely promoting products [1] - Each customer manager is designated as a "chief service manager," focusing on problem-solving rather than just loan sales, thus enhancing the overall service experience for merchants [1] Group 2: Targeted Solutions - The bank utilizes a "targeted approach" to address the diverse needs of individual businesses, moving away from a one-size-fits-all service model [2] - By implementing a "government-bank linkage," the bank gathers valuable insights into industry policies and compiles a list of quality merchants, allowing for more effective marketing strategies [2] - Specific financial products, such as pure credit "industry loans" with a maximum credit limit of 1 million yuan, are tailored for businesses with high cash flow needs and seasonal fluctuations [2] Group 3: Promotion and Awareness - The bank adopts a "penetrative approach" to enhance awareness of financial policies among merchants, utilizing offline scenarios for effective communication [3] - Collaborations with government resources and industry associations help translate complex financial policies into understandable information for merchants [3] - The bank's innovative "service as promotion" model encourages merchants to actively engage with financial services, significantly improving their awareness and acceptance of available policies [3]

Core Insights - The increasing penetration of digital payments has made aggregation payment a fundamental infrastructure for commercial transactions, but some service providers are neglecting the importance of regulatory compliance, leading to significant operational risks and barriers to market access [1][2] Regulatory Compliance - Aggregation payment service providers must complete registration to operate legally, as per the "Administrative Measures for Payment Business of Non-Bank Payment Institutions" and local financial regulations [1] - Non-compliant entities face three major risks: administrative penalties ranging from 100,000 to 1 million yuan, business disruptions due to inability to partner with licensed payment institutions, and credit sanctions affecting future financing and qualifications [1] Market Operations - Non-compliance can trigger a chain reaction of operational crises, including loss of partnerships with major clients like state-owned enterprises, potential delays in fund settlement, and damage to brand reputation due to negative publicity [1][2] - Major app stores have made compliance a prerequisite for app listing, leading to three restrictions for non-compliant applications: rejection of new app submissions, mandatory removal of existing non-compliant apps, and functional limitations affecting user experience [2] Support Services - Companies like Shandong Hanglvtong Electronic Technology Group provide comprehensive management services to help payment service providers navigate the complex registration process, ensuring compliance and facilitating efficient market access [2][3] - The importance of compliance is emphasized as a survival baseline for the aggregation payment industry, with a call for service providers to leverage professional support to achieve rapid compliance transformation [3]