Shanghai, China – September 9, 2024 – Card友Payment Services Co., Ltd. (Card友Payment), a leading payment service provider, has announced a significant adjustment to its business operations, resulting in the termination of QR code transactions through its CardEasePay app. Effective from September 1, 2024, CardEasePay will no longer support transactions for all QR code merchants, including those that have subsequently bound physical terminals. The company has also reminded its agents to withdraw their profits and make arrangements for their customers by September 10, 2024.
This move comes amidst broader adjustments within the payment industry, with several other institutions, such as Modern Payment and Huifupay, considering a withdrawal from the market. Card友Payment’s decision to exit the micro线下收单业务 domain appears to align with recent rumors and speculation about the company’s business restructuring.
In a previous statement on April 29, 2024, Card友Payment addressed concerns about the circulation of false information and deceptive practices in the market. The company warned against individuals impersonating Card友Payment and sending fraudulent messages to merchants under the guise of equipment shutdowns.
Card友Payment was founded in 2003 and obtained a payment business license from the People’s Bank of China in June 2012, authorizing it to conduct card acceptance business. In 2015, the company was acquired by publicly listed company DaHua Smart. However, in July 2018, Card友Payment faced administrative penalties from the People’s Bank of China for violations, resulting in the orderly withdrawal of its card acceptance business in 25 provinces, autonomous regions, and municipalities across China, excluding Shenzhen.
Recently, the People’s Bank of China published an updated batch of payment license information, with most payment institutions changing their business types. However, Card友Payment was not included in this update, despite having previously renewed its license. The company’s payment license business type remains “Bank Card Acceptance (Tianjin, Shandong (including Qingdao), Sichuan, Beijing, Yunnan, Qinghai, Shenzhen)”, with the specific reasons for this status not yet disclosed. The future of the license remains a topic of interest.
The termination of QR code transactions through CardEasePay is expected to have a significant impact on the payment industry, as it reflects broader changes in the market. As more payment institutions consider exiting the micro线下收单 business, it remains to be seen how the industry will evolve in the coming years.
For more information on this topic, please visit the official website of Card友Payment Services Co., Ltd. or contact their customer service department.
About Card友Payment Services Co., Ltd.
Card友Payment Services Co., Ltd. is a leading payment service provider in China, offering a wide range of payment solutions to businesses and individuals. The company was founded in 2003 and has grown to become one of the most trusted payment service providers in the country. For more information, please visit Card友Payment Services Co., Ltd..
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