YeePay fined 52 million 960 thousand yuan to an event run away

[TechWeb] August 18th news reports, the people’s Bank of business management department China days ago announced on its official website on Epro payment Limited (hereinafter referred to as YeePay) punishment notice, confiscating the illegal income of about 10 million 592 thousand yuan, 4 times of the illegal gains and impose fines of about 42 million 369 thousand yuan.

 

YeePay fined 52 million 960 thousand yuan to run away an event

said the central bank, after verification, YeePay a violation of the relevant provisions of the liquidation management and other irregularities. According to the "People’s Republic of China", "law of the people’s Bank of China non-financial institution payment service management approach" and other legal system of confiscating the illegal income of about 10 million 592 thousand yuan, 4 times of the illegal gains and impose fines of about 42 million 369 thousand yuan.

early in the central bank before punishment, the media have speculated that due to the fear of an YeePay run away incident fined 10 million. Previously led by the people’s Bank, the 14 ministries and commissions under the scheme of "rounds of non bank payment institutions risk special rectification work plan" (that is, No. 112) clearly stipulates that the serious investigation of undocumented clearance Payment institutions as well as the mechanism of undocumented illegal activities provide access or interface related licensed payment institutions, commercial bank’s responsibility.

called an institution refers to companies and organizations and individuals without access to the central bank to pay the license to carry out business payment business. It is a clear (licensed Payment institutions) is the difference between self liquidation, in the entire POS single link in the transfer.

industry has previously predicted, YeePay as close a big brand in the field of single regulators will face heavy penalties, YeePay involving second interception merchant settlement funds and cleaning agents run away.

according to previous news reports, the relationship mechanism and payment relationship for the channel agent YeePay company and the Wuhan exchange and Wuhan exchange, pay below and hang the three level and four level agents for the outsourcing services, including a Shenzhen long fly Technology Co. Ltd., through the POS machine business for the company in January 8, 2016 -10, nearly 10 million of the settlement money is not credited. This led to business groups began to seek the upper body to discuss.

is the central bank for the third party payment regulation is being tightened, July 25th, communications payment and UnionPay business two of the third party payment company by the central bank 11 million 101 thousand yuan and 26 million 537 thousand yuan penalty. (Wang Kaka)