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2018年3月16日 (金)

who is the world's first company?

  According to the public information, the world first company (World First) was born in London in 2004 and began to exchange money at the beginning of its founding. Then it gradually developed payment services, providing cross-border payment services for individual customers and business customers worldwide, and solving cross-border cash receipts for cross-border e-commerce sellers. It has supported 66 online sales platforms such as Amazon.

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  World First provides us dollars, yen, euro, sterling, Australian, New Zealand, and Canadian dollars, with branches in the United Kingdom, the United States, Australia, Hongkong, Singapore, Japan and Holland.

  At present, more than 20 thousand Chinese cross-border electricity suppliers are using World First services, and the annual turnover is over 1 billion US dollars worldwide. Among foreign institutions, PayPal and World belong to the same company as First.

  2, is it safe?

  With money linked formats, people usually consider their safety more. For such a foreign payment institution, there is no doubt that its safety is doubtful. Is it safe and reliable?

  According to the requirements of the central bank, foreign investment Payment institutions apply for licences to meet the requirements of domestic entities, payment facilities and information security. After obtaining the payment permit, the foreign investment payment institution is the same as the domestic payment institution, and is in compliance with the central bank's regulatory requirements for non bank payment institutions.

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  With regard to information security, the central bank stipulates that all kinds of information processing and analysis collected by foreign investment Payment institutions in China should be carried out within the territory of China. If information must be transmitted to the territory of the country, it should be agreed upon by the personal information subject and the foreign subject should perform the obligation of secrecy if it is in conformity with the relevant provisions.

  3, why do you choose China?

  This is related to the rapid development of China's payment service market in recent years and the further expansion of China's financial industry.

  Since the establishment of the payment service licensing system in 2010, China's payment service market has been developing rapidly. From 2013 to 2017, the amount of business handled by Chinese Payment institutions increased from 37 billion 100 million to 319 billion 300 million, from 18 trillion yuan to 169 trillion yuan, according to the data from the central bank.

  On the other hand, under the main keynote of constantly opening up to the outside world, China has greatly relaxed market access, including the financial sector. In March of this year, the people's Bank of China issued the public notice [2018] seventh of the people's Bank of China (PBC), which made clear the access and regulatory policy of foreign investment Payment institutions, and welcomed and encouraged foreign institutions to participate in the development and competition of the Chinese payment service market.

  In the Bulletin No. 7, the central bank clearly stipulates that foreign capital and domestic payment institutions must comply with the same regulations, achieve unified access standards and regulatory requirements, and create a fair market competition environment. This means that the entry of foreign institutions into China's payment market will enjoy a comprehensive "national treatment".

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  4, is it difficult to survive in China?

  The industry analysts believe that the domestic payment market pattern has been fixed, the supervision is strict, the Foreign Payment institutions are facing the challenge of entering the Chinese market, or will face many problems, such as the transformation of the users, the acquisition of the merchants, the low profit margin.

  At present, the domestic third party payment industry has developed fairly well, and the industrial chain is complete. After years of market baptism, it is relatively mature. On the other hand, the rate of Foreign Payment institutions in foreign countries is generally 1.5%-2%, while the rate of domestic third party payment institutions is less than 5/1000, and the domestic payment magnates are subsidized by "burning money" during the promotion. Under such circumstances, the profitability of Foreign Payment institutions in China will also be tested.

  However, analysts also say that foreign payment institutions still have opportunities in certain areas of service, such as cross-border payments, which require the capacity of the institutions to be able to connect and accurately separate the accounts.

  5, what is the impact on China's payment pattern?

  Insiders pointed out that in the future, with the continuous March of foreign businessmen, the domestic payment market will enter the era of competition.

  Yin Zhentao, deputy director of the law and Finance Research Office of the Institute of financial research, Chinese Academy of Social Sciences, said that foreign payment institutions will bring competition into the Chinese market and bring new vitality into the payment industry.

  Dong Ximiao, a senior researcher at Chongyang Finance Research Institute, Renmin University of China, believes that in the domestic market, the market structure is difficult to change in the short term. "Now the non bank payment in the mainland has already pulled the price down very low. It is a question whether these institutions can survive abroad."

  But Dong Ximiao also pointed out that under the premise of strengthening supervision and preventing risks, expanding the opening to the outside world as a whole has a positive effect.

  6, foreign investors have come, what do you do?

  Earlier, according to the people in charge of the central bank, with the increasing degree of opening to the outside world of China's financial industry, more and more foreign institutions expressed their desire to enter the service market in China.

  In this regard, Zhao Yao, Deputy Secretary General of the Beijing Network Law Research Institute, said that as the opening continues to expand, the regulatory authorities will face a more complex situation, which needs to consider the impact of new entrants on the existing industrial ecosystem, how to promote balanced development and guard against systemic risks.