Central bank deepens the development of the rural payment service environment
According to the website of the People's Bank of China, the People's Bank of China recently issued the "Guiding Opinions of the People's Bank of China on Comprehensively Promoting the Deepening of the Development of the Rural Payment Service Environment" (hereinafter referred to as the "Opinions"). A responsible person from the relevant department of the central bank stated that deepening the development of the rural payment
According to the website of the People's Bank of China, the People's Bank of China recently issued the "Guiding Opinions of the People's Bank of China on Comprehensively Promoting the Deepening of the Development of the Rural Payment Service Environment" (hereinafter referred to as the "Opinions"). A responsible person from the relevant department of the central bank stated that deepening the development of the rural payment service environment, unblocking rural payment and settlement channels, and accelerating the turnover of funds play a very positive role in promoting the reform and upgrading of rural financial services and thereby promoting the development of “agriculture, rural areas and farmers”.
The "Deepening Opinions" are divided into ten parts in total. The first part is the guiding ideology. The second part covers the basic principles, namely demand-oriented and adapted to local conditions, enriching entities and encouraging innovation, controllable risks and pilot first, and policy support and inclusive development. The third part clearly relies on the bank card agricultural withdrawal service to promote the development of comprehensive agricultural-benefiting payment services, and puts forward guiding requirements for comprehensive agricultural-benefiting payment services from the perspectives of newly added business types, transaction limit management, acquiring institution management, service point management, fee mechanisms, and the efficient use of financial resources at service points. The fourth part proposes optimizing the special bank card service for migrant workers and puts forward adjustment opinions on the transaction limits and fees of this service. The fifth and sixth parts reiterate the guiding requirements on basic work such as payment service entities, settlement accounts, payment instruments and methods, and payment clearing systems in rural areas. The seventh part puts forward work opinions on policy support for improving the rural payment service environment, requiring the improvement of working mechanisms and the perfection of the policy support system. The eighth part once again emphasizes the risk management requirements for rural payment services. The ninth part proposes strengthening the development of a long-term mechanism for rural payment publicity and training, and in particular proposes exploring the publicity role of the agricultural withdrawal service network. The tenth part puts forward specific work requirements for the implementation of these Opinions.
The People's Bank of China stated that it insists on guiding relevant institutions to participate in the development of the rural payment service environment in accordance with the “three-ization” principles.
First, diversification. Encourage and support banking institutions, clearing institutions, payment institutions and other types of payment service providers to participate in the development of the rural payment service environment and jointly participate in the integrated urban-rural development of our country.
Second, marketization. Insist on promoting the development of the rural payment environment in accordance with the principle of giving priority to marketization. Promote service pricing, professional qualifications, business models, business cooperation and other aspects to be determined through market mechanisms. Insisting on marketization does not mean completely abandoning administrative guidance. Practice has proved that administrative departments taking the initiative and acting appropriately and moderately, giving policy support and guidance, has a positive and significant promoting and safeguarding role.
Third, electronification. The practice of payment service development at home and abroad has proved that electronification is a significant development direction of the payment service industry. Using electronic information technology to provide payment services overcomes the constraints of time and space and provides customers with low-cost and convenient services. Physical bank outlets in rural areas are relatively insufficient, making the advantages of electronic payment even more prominent.
On the one hand, the "Deepening Opinions" urge and guide major agricultural financial institutions such as Agricultural Bank of China, Postal Savings Bank of China, and rural credit cooperatives to make full use of their advantages in outlet setup, customer group cultivation, and establishment of social awareness, and continue to play the role of the main force in the development of the rural payment service environment.
The "Deepening Opinions" are divided into ten parts in total. The first part is the guiding ideology. The second part covers the basic principles, namely demand-oriented and adapted to local conditions, enriching entities and encouraging innovation, controllable risks and pilot first, and policy support and inclusive development. The third part clearly relies on the bank card agricultural withdrawal service to promote the development of comprehensive agricultural-benefiting payment services, and puts forward guiding requirements for comprehensive agricultural-benefiting payment services from the perspectives of newly added business types, transaction limit management, acquiring institution management, service point management, fee mechanisms, and the efficient use of financial resources at service points. The fourth part proposes optimizing the special bank card service for migrant workers and puts forward adjustment opinions on the transaction limits and fees of this service. The fifth and sixth parts reiterate the guiding requirements on basic work such as payment service entities, settlement accounts, payment instruments and methods, and payment clearing systems in rural areas. The seventh part puts forward work opinions on policy support for improving the rural payment service environment, requiring the improvement of working mechanisms and the perfection of the policy support system. The eighth part once again emphasizes the risk management requirements for rural payment services. The ninth part proposes strengthening the development of a long-term mechanism for rural payment publicity and training, and in particular proposes exploring the publicity role of the agricultural withdrawal service network. The tenth part puts forward specific work requirements for the implementation of these Opinions.
The People's Bank of China stated that it insists on guiding relevant institutions to participate in the development of the rural payment service environment in accordance with the “three-ization” principles.
First, diversification. Encourage and support banking institutions, clearing institutions, payment institutions and other types of payment service providers to participate in the development of the rural payment service environment and jointly participate in the integrated urban-rural development of our country.
Second, marketization. Insist on promoting the development of the rural payment environment in accordance with the principle of giving priority to marketization. Promote service pricing, professional qualifications, business models, business cooperation and other aspects to be determined through market mechanisms. Insisting on marketization does not mean completely abandoning administrative guidance. Practice has proved that administrative departments taking the initiative and acting appropriately and moderately, giving policy support and guidance, has a positive and significant promoting and safeguarding role.
Third, electronification. The practice of payment service development at home and abroad has proved that electronification is a significant development direction of the payment service industry. Using electronic information technology to provide payment services overcomes the constraints of time and space and provides customers with low-cost and convenient services. Physical bank outlets in rural areas are relatively insufficient, making the advantages of electronic payment even more prominent.
On the one hand, the "Deepening Opinions" urge and guide major agricultural financial institutions such as Agricultural Bank of China, Postal Savings Bank of China, and rural credit cooperatives to make full use of their advantages in outlet setup, customer group cultivation, and establishment of social awareness, and continue to play the role of the main force in the development of the rural payment service environment.