After payment by UnionPay Commerce and Tonglian, another payment company was fined. The Central Bank recently announced a penalty notice for Yibao Payment Co., Ltd. (hereinafter referred to as “Epropay”) on the official website. Due to “violation of related clearing management regulations”, Yibao Payment Co., Ltd. was warned to confiscate its illegal income of approximately 10.592 million yuan. Yuan, and imposed a penalty of 4 times the illegal income of about 42.369 million yuan, a total of 52 million yuan.
Why is Yibao paid?
In fact, it is not the first time that Epro payments have been fined. The Yibao payment established in August 2003 is regarded as my countryThird party paymentA relatively fast-growing institution in the organization has set up a very wide network of outlets in China, and 32 branches have been established. However, due to the lack of internal management, the problems are more exposed. In March 2014, the central bank imposed penalties on the suspension of access to new merchants across the country for eight third-party payment agencies. Yibao paid its name on the list.
It is understood that this is not the first payment institution that has been fined by the central bank. In July of this year, Tonglian Payment Network Service Co., Ltd. and UnionPay Business Co., Ltd. violated the two companies.Bank card receiptThe relevant laws and regulations of the business were also punished by fines, in which the Tonglian payment was confiscated with 30,375,533.4 yuan of illegal income, and a fine of 11,101,266.02 yuan was imposed. UnionPay Commerce was confiscated 6,134,255.55 yuan and imposed a fine of 2,653,022,220 yuan.