Yinsheng Payment entered the industry in 2009, although it entered the industry late, but Yinsheng Payment won its own market with its products. It is a subsidiary of Shenzhen Yinsheng Financial Group, which began to develop the national acquiring market in 2014, and its business network has expanded to more than 30 provinces and cities, with millions of merchant users, and successfully renewed its payment license in 2016.
The third-party payment market has developed to the present, and the trend of intelligent direction is relatively obvious. Compared with traditional POS, the upgrade of smart POS machine is that it can aggregate payment (support a variety of payment methods) and value-added functions (store management function, marketing function, data analysis) are prominent. At present, the supply of POS machines exceeds demand, and merchants are in a buyer's market, which requires third-party payment institutions to make efforts from the perspective of product development and innovation, to solve the merchants' expectations for the additional effect of POS machine products, and the product itself combined with the latest technology to solve the payment and a series of problems attached to the real consumption scene.
Yinsheng Pay's main route is "payment technology", and its business covers four major sectors: payment, management, marketing and financial services. In terms of payment, Yincheng Pay's POS products support mainstream payment methods, such as scanning QR codes and face payment; In terms of value-added services, it provides store management functions and marketing functions, and supports merchants in financial, commodity, membership and advertising management; In terms of financial services, the products cover POS loans, supply chain finance, installment services, corporate loans, etc.
Yinsheng's product system is more diversified and enriched, and it is segmented according to different user scenarios. For small and micro merchants, the products it has launched include smart shopkeepers, Yinsheng small white boxes, Yinsheng code cards, etc. Provide small and medium-sized enterprises with Yinsheng E-payment, platform pass and other account sharing and scenario payment solutions; It has created solutions for industry enterprises such as enterprise wallets, ERP cash register systems, and catering industries.
Although Yinsheng Pay's POS products have their advantages, it must be pointed out that Yinsheng Pay has accumulated 15 fines from 2017 to September 2020, of which it received "tens of millions of fines" issued by the Shenzhen Central Branch of the People's Bank of China in 2018. After investigation, Yinsheng Pay provided payment services for overseas illegal precious metal Internet trading platforms, failed to take effective measures to inspect and prevent them, and objectively provided trading channels for illegal transactions. In 2020, as of mid-September, Yinsheng Pay has received 4 fines, all of which are related to the failure to fulfill customer identification obligations in accordance with regulations and transactions with unidentified customers, all of which involve anti-money laundering. At the same time, in 2020, on the third-party complaint platforms Ju Complaint and Black Cat Complaint, it was also revealed that Yinsheng payment agents defrauded POS machine deposits and falsely advertised low rates. The next date for renewing the payment license is 2021, and if the company's supervision is not strengthened, such a management loophole is likely to affect the renewal.
