GuShiio.com Two licensed payment companies were fined, Shandong Yitong Payment Network Technology Co., Ltd. was warned by the central bank for violating regulations, and Kaitong Payment Services Co., Ltd. was fined more than one million for three violations.
Two licensed payment companies receive central bank fines
Blue Whale News, February 14 (Reporter Huang Yujie)On February 14, two branches of the People’s Bank of China announced the latest information on administrative penalty companies, and two licensed payment companies were fined respectively.
Specifically, the latest administrative penalty information released by the People’s Bank of China Qingdao City Branch shows that the licensed payment company Shandong Yitong Payment Network Technology Co., Ltd. was warned by the central bank for violating regulations.
According to the information in the public announcement form, the type of illegal behavior of Shandong Yitong Payment Network Technology Co., Ltd. is that when an incident endangering network security occurs, it fails to report to the relevant competent authorities in accordance with regulations.
Shandong Yitong Payment Network Technology Co., Ltd. was established on June 20, 2011 with a registered capital of 100 million yuan. Originally known as Shandong Online Famous Network Technology Co., Ltd., on May 31, 2024, Online Famous changed its name to Shandong Yitong Payment Network Technology Co., Ltd. and obtained the approval of the People’s Bank of China. On June 27, 2012, it obtained the Internet payment license issued by the People’s Bank of China. The current business type is stored value account operation Class I.
In addition, the latest administrative penalty disclosure information released by the People’s Bank of Beijing City Branch of China shows that licensed payment company Kaitong Payment Services Co., Ltd. was fined more than one million for three violations.
Specifically, the violations of payment by Unicom include: 1. Conduct transactions with unidentified customers;2. Failure to perform customer identification obligations as required;3. Failure to submit large-value transaction reports or suspicious transaction reports as required. Content of administrative penalty: A fine of 1.1885 million yuan will be imposed.
At the same time, Xu Mouqi, then general manager of Unicom Payments, was directly responsible for three violations of Unicom payments and was fined 108,300 yuan.
According to public information, Kai Unicom Payment was established in 2010 with a registered capital of 100 million yuan. It is one of the first 27 non-bank payment institutions in China to obtain the Payment Business License issued by the People’s Bank of China. In 2021, China Unicom Payment will complete the second renewal of its payment license, with the validity period extended to May 2026. After the reclassification of the payment business, the payment business type of Unicom has been adjusted to stored value account operation Class I and stored value account operation Class II.
