Core Viewpoint - In the context of ongoing pressure in the payment industry, Suning Payment has announced the termination of payment services for small and micro merchants starting September 20, 2025 [2] Group 1: Service Termination Details - Suning Payment will limit credit card acceptance for small and micro merchants starting from September 17, 2025, and will fully cease services on September 20, 2025 [2] - The termination affects small merchants registered with ID cards and without business licenses, impacting various POS sub-brands under Suning Payment [2] - This change will force many individual operators and small businesses to switch payment channels [2] Group 2: Regulatory and Compliance Issues - Suning Payment has faced significant penalties from the central bank due to inadequate risk control and violations of merchant information regulations [2] - In August, the Inner Mongolia branch was fined nearly 4.5 million yuan for anti-money laundering violations [2] - The business contraction may be closely related to compliance pressures and adjustments in the company's profit model [2]