Do you need to pay tax when using personal QR code to collect? Recently, it has been reported that since March 1, 2022, the personal payment code of WeChat and Alipay should not be used for operating receivables. Moreover, the data of the past four years will be tracked down. Once the amount is large, the tax will be supplemented by 4.5%, and the overdue fine and fine will be paid. In response, both WeChat and Alipay responded by saying that this is a rumor.
However, the personal collection code market will indeed usher in adjustment. According to the notice on strengthening the management of payment acceptance terminals and related businesses (hereinafter referred to as the notice) issued by the central bank last October, the personal collection code will not be used for operation, and the notice will be officially implemented from March 1 this year.
In the industry view, the notice will promote the migration of individual businesses from the personal receipts code to the merchant payment code. In the process, Alipay and WeChat are facing the situation of shunting part of the “direct connection” merchants, and some of the merchants or the professional receiving service agencies under the line. The first financial reporter noted that at present, many banks and Payment institutions are actively promoting their own aggregate collection codes in order to seize the market.
However, there are also views that there is not expected to be a large number of transcoding and the increase of the overall charging space of the market. The key lies in how to measure “with obvious characteristics of business activities”. At present, the market is waiting for the introduction of relevant standards.
personal collection code is not completely restricted
The notice stipulates that for individuals with obvious characteristics of business activities, bar code payment and collection service institutions shall provide them with the collection bar code of special merchants, and shall refer to the relevant management regulations of special merchants, and shall not provide them with collection services related to business activities through personal collection bar code.
“As for the impact, it mainly depends on how to distinguish the characteristics of obvious business activities.” A senior practitioner in the payment industry told reporters that at present, there is no relevant detailed rules, which may be determined according to the number and amount of daily transactions, but the use of personal collection code will not be completely limited.
It is understood that the collection code is mainly divided into personal and business receipts code, the notice is to require businesses to provide WeChat and Alipay operating two-dimensional code, after the use of two-dimensional code can not be used to receive business receipts, but for non operating personal receipts code can still be used normally.
In response to the reporter’s question about whether the personal collection code can continue to be used from March 1, Tencent customer service also said that according to the communication between TenPay and the regulatory authorities and the understanding of the new regulations, the personal collection QR code can still be used after March 1, and some users with obvious business behavior need to be upgraded to business collection code according to the regulations, The standard regulatory authorities for obvious business behavior will be announced in the near future, and the platform will be reserved for a period of time as a transition period before users upgrade. If the upgrade standard is met, the wechat collection assistant will send a message notice, and the personal collection code of users who have not received the notice will not be affected.
Alipay customer service also told reporters, “we have been actively studying the relevant requirements of supervision. According to our communication with the regulatory authorities and the understanding of the new regulations, after March 1st, the Alipay personal receipts code can continue to be used normally, and the users who have obvious business behaviors should upgrade according to the regulations.”
Alipay customer service also said that when the regulatory authorities announce the “clearly operating behavior” standard, users will be reminded and guided in the prominent position of “business service” home page, and some time will be reserved as a transitional period. Users who have not received the notice can continue to use the personal collection code normally and will not be affected.
The central bank has previously said that the China payment and clearing association is studying and formulating relevant standards. The reporter learned that the relevant standards may be released in the near future.
The consensus in the industry is that prohibiting personal collection codes from being used for operational collection can effectively avoid potential risks. Guotai Junan Securities Co.Ltd(601211) according to the analysis of the non bank team, at present, it is common for individual industrial and commercial households to conduct business collection through personal collection code, resulting in confusion of transaction nature, distortion of transaction information and difficulty in controlling the risk control link. Prohibit personal collection codes from being used for business collection, which can effectively identify personal collection and business collection, and then carry out targeted risk control management to avoid potential risks.
Specifically, at the implementation level, China International Capital Corporation Limited(601995) means that in the future, acquirers or technical means based on big data analysis will judge whether users have obvious business characteristics and limit the validity period, collection times and transaction amount of personal collection codes. In this way, it can not only ensure that the personal collection bar code is still used for personal small collection in Lbx Pharmacy Chain Joint Stock Company(603883) daily life within a certain range, but also help to control the potential risks of personal collection bar code (such as distorting transaction information and affecting the monitoring effect of illegal activities such as money laundering / gambling / fraud).
offline receipt ” smoke everywhere ” “
“Rest assured to collect, please use ABC aggregate code!” In February 18th, the official account of ABC Merchants Service issued an article which said that ABC’s aggregate code was a commercial account receivable code that complies with the latest policy requirements. It integrated WeChat, Alipay, UnionPay cloud flash payment, Agricultural Bank‘s palm silver and other channels of collecting money, without cash withdrawals, and directly into the bound agricultural bank account.
Coincidentally, Industrial And Commercial Bank Of China Limited(601398) Changzhong branch published a similar article on February 14, entitled “from March 1, personal code shall not be used for business collection. Please aggregate collection code of labor bank!”, He also said that only the ID card, bank card and shop photos can be handled online in minutes.
In addition, Bank Of China Limited(601988) and China Construction Bank also have similar promotion. Bank Of China Limited(601988) said that the Bank of China collection code supports large, medium, small and micro businesses to open stores and promote stores free of charge; Support the four ways of collecting money, such as Bank of China, WeChat, Alipay and UnionPay. China Construction Bank Corporation(601939) said that the two dimensional code of the Bank of China Merchants integrated WeChat, Alipay, UnionPay cloud payment, and dragon payment. The business can directly enter the customer binding bank card or public account without cash withdrawals after receiving business account.
In addition to banks, many aggregation Payment institutions are also promoting their collection codes, and the flames of the acquiring market are getting stronger for a while. Earlier, analysts said that the new regulations had limited financial impact on Alipay and WeChat in the current period, but diverted some of them from direct links.
After all, according to the requirements, Alipay and WeChat need to refer to the actions of other receiving institutions, such as the network procedures implemented by merchants under the line, the verification of personal receipts by users with obvious business characteristics, and the upgrading of personal code to commercial code. For merchants without fixed business premises, in principle, they should be verified by means of artificial or intelligent customer service synchronous video, or add activity costs.
According to China International Capital Corporation Limited(601995) analysis, taking into account the tax planning considerations of merchants and the failure rate in the process of guiding the network certification process, it is difficult to convert all business operators using personal receipt barcodes into Alipay and WeChat direct receiving merchants, some of which are turning to professional receipts under the line. In addition, taking into account the current Alipay and WeChat pay for the basic implementation of free policy on personal bar code collection, some of the number of acquiring merchants has been limited to their financial impact, but the funds flowing into their payment system will also be reduced.
Senior practitioners in the aforementioned industry also told reporters that the new regulations may bring opportunities to professional acquirers. Considering that the transcoding of personal collection code requires acquirers to go deep offline and obtain customers point-to-point, which will be beneficial to companies engaged in offline acquiring business.
However, Wang Pengbo, a senior analyst at Broadcom analysis, said bluntly, “it is impossible for a large number of individual users to need transcoding and the overall charging space of the market to increase.” The new regulations of the central bank are to improve the supervision of collection codes and avoid crimes such as money laundering. Superimposed on factors such as reducing fees and profits for small, medium-sized and micro businesses and reducing the impact of policies on the market, it is expected that most individual businesses will not be affected in terms of how to measure “with obvious characteristics of business activities”. Therefore, there is no so-called good news for aggregation payment service providers. In addition, the service homogeneity of aggregation payment market itself is serious and the competition is very fierce, so the impact is or limited.
