In March 2016, the National Development and Reform Commission and the Central Bank issued the “Notice on Improving the Pricing Mechanism for Bank Card Credit Card Feesâ€, which made important adjustments to the charging model and pricing level of the bank card acquiring business. It was officially implemented on September 6, 2016. Therefore, it is called "96 fee change" in the industry.
Before the “96 fee reformâ€, the charging standard for bank card acquiring business was the “Notice on Optimizing and Adjusting the Bank Card Crediting Fee†issued by the National Development and Reform Commission on January 16, 2013 (Development and Reform Price [2013] No. 66). The notice was changed from the government-guided price to market-based pricing, and the borrowing and lending were separated. The merchant classification was adjusted from six categories to four categories, and the original “721†split mode of UnionPay, issuer and acquirer was directly broken.
At present, China's acquiring market structure mainly includes issuing banks, acquiring institutions and UnionPay. Among them, the acquiring service fee charged by the acquiring institution to the merchant is also required to be borne by the merchant and reflected in the credit card processing fee. After the transaction is generated, the issuing bank will charge the issuer for the issuer's service fee, while UnionPay will charge the acquirer and the issuer for the network service fee.
UnionPay's network service fee is charged to the acquiring institution and the issuing bank respectively by 0.0325%, regardless of the borrowing and credit card. The amount of the single transaction is not more than 6.5 yuan (that is, when it is separately collected from the acquiring and issuing institutions, The fee amount does not exceed 3.25 yuan). The service fee for the receipt of the order is changed from the previous government guidance price to the market adjustment price, and the acquirer and the merchant negotiate to determine the specific rate.
The issuing bank's service fee is 0.35% for the debit card transaction and no more than 0.45% for the credit card transaction. The debit card transaction fee is not more than 13 yuan, and the credit card transaction is not subject to a single charge capping control.
The fee change is to reduce the merchant's handling fee as the "big goal". Since the rate is lowered, one or more parties naturally bear the benefits reduced for the merchant. The biggest feature of the 96 fee reform is that the loan separation rate is uniform and the service fee for the receipt is determined by the acquirer and the merchant to determine the specific rate. After the fee change, we predict that according to the new benefit distribution rules, the biggest beneficiary is the issuing bank, then the bank will increase the amount of card issuance.
The People's Bank of China recently released the overall situation of the payment system in the third quarter of 2017. Data show that as of the end of the third quarter, the number of cards issued by the national bank card was 6.518 billion, an increase of 8.35% year-on-year and a 2.69% quarter-on-quarter increase. Among them, the number of debit cards used was 5.966 billion, an increase of 8.10% year-on-year and 2.38% quarter-on-quarter; the number of credit card and loan-to-debt cards issued totaled 552 million, an increase of 11.18% year-on-year and a growth of 6.13%. There are 4.71 bank cards per capita in the country, of which 0.36 cards are held per capita.
The bank has exhausted all means to promote the Bank's credit card, and the number of credit card in use has reached 552 million so far!
Card is more, and the long-term is still good for the payment industry.
Clear crystal decanter
Clear crystal decanter
Xi'an ATO International Co., Ltd , https://www.xianato.com