Be careful with the POS in your hands! Central bank inspection is coming soon

The so-called "two clear" institutions are for the "one clear" organization. The “Second Qing” institution is different from the bank that is the “one clear” institution and the institution that has the third-party payment license. The “Second Qing” institution has not obtained the business license of the central bank, and has no threshold. With the support of licensed acquirers, they are actually engaged in payment business. Because of long-term travel outside the law, a large number of cash-out, set-up, code-hopping, and alteration-making transactions are directly linked.

The POS machines of the “one clear” organization are generally directly cleared by UnionPay, banks or third-party payment companies, and the merchant's transaction settlement funds will be directly transferred to the merchant's collection account.
The POS machine of the “Second Qing” institution needs to carry out secondary liquidation, that is, after the settlement fund is cleared to the third party account opened by the “Second Qing” institution, it will be settled to the merchant after processing through the third party account. Collection account.
To put it simply, the business of the “Second Qing” organization has not obtained the business license of the central bank, but actually engages in the payment business under the licensed acquiring institution.

Just last year, Yang Ma issued the "Notice on Further Strengthening the Remediation of Unlicensed Business Payment Services" (Yin Ban Fa [2017] No. 217). The central bank said: This document is mainly aimed at cracking down on unlicensed operations in the early stage. On the basis of the payment business related work, the relevant work will be further promoted, and the license-issuing institution will be the key inspection object, and the license-issuing institution will be inspected in violation of the rules to provide payment clearing for the unlicensed business payment business organization (hereinafter referred to as “unlicensed institution/unlicensed company”). The behavior of the service.
In summary, the use of "Second Qing" has serious hidden dangers. The documents issued by the central bank have caused the "Second Qing" POS machine to face a serious crisis of survival, and the crisis is not far away, just in April this year.
Since the "two clear" POS machine is so dangerous, how to avoid using the "two clear" POS machine?
1. A clearing machine with an official independent background supports real-time query transaction details. By checking the business license information and settlement account information with the official customer service, it can accurately distinguish whether it is a clear machine. If there is no independent background, it must be a POS machine.
2, look at the source of the pos fund settlement source, usually, POS credit card settlement method is T+1 way of settlement. We can check whether the pos funds are transferred by the acquirer in the online banking transaction details. The remarks are generally: customer reserve funds.
At the end of November 2017, the Central Bank issued the “Notice on Further Strengthening the Remediation of Unlicensed Operation Payment Services” (No. 217), demanding a thorough investigation of “Second Qing”. At the same time, the notice clearly proposes the time limit for rectification, requiring the license-issuing agency to self-examine and self-check before the end of December 2017; the local banks will start the inspection before the end of February 2018; the punishment and summary work will be completed before the end of June 2018.
Previously, the Supreme People's Procuratorate stated that it did not obtain the payment business license to engage in this business, and violated the provisions of Article 4, paragraph 1 (3) and (4) of the Measures for the Banning of Illegal Financial Institutions and Illegal Financial Business Activities. If the payment settlement business license system jeopardizes the order and security of the payment market, if the circumstances are serious, the second and second paragraphs of Article 225 of the Criminal Law shall apply, and criminal responsibility shall be investigated for the crime of illegal business operations. Specific situation:
1. The network payment service based on the customer's payment account is not obtained for the payment business license. The unlicensed network payment institution illegally opens a payment account for the customer, and the customer first pays the funds to the payment account, and then the unlicensed institution settles the funds from the payment account platform to the payee bank account according to the order information.
2. The company has not obtained the payment business license to operate the multi-purpose prepaid card business. Unlicensed card issuers illegally issue multi-purpose prepaid cards that can be used across regions, industries, and legal entities, gather a large amount of prepaid card sales funds, and transfer settlement funds to merchants based on customer order information.