Central bank approval! Wechat payment big move

On March 15th, the People’s Bank of China updated the information of major event change permission of non-bank payment institutions, which showed that Tenpay Payment Technology Co., Ltd. was approved to increase its registered capital to 15.3 billion yuan.

According to public information, Tenpay Payment Technology Co., Ltd. was established in 2006 with a registered capital of 1 billion yuan. Tenpay’s shareholders are Shenzhen Tencent Computer System Co., Ltd. and Shenzhen Century Kaixuan Technology Co., Ltd., with 95% and 5% respectively. The technical support for WeChat payment, payment license required for QQ wallet and bank channel is provided by Tenpay.

According to the website information of the People’s Bank of China, Tenpay obtained the third-party payment license in 2011, and the business types of its payment license are nationwide Internet payment, mobile phone payment and bank card receipt.

Tenpay said that the company will increase its capital based on its own business development needs, and will further increase its investment in scientific and technological innovation and improve the quality of payment services to further promote the steady development of its business.

Judging from the public information, there was a round of capital increase by third-party payment institutions last year. On February 1 last year, PayPal Payment (a wholly-owned subsidiary of PayPal China) was approved to increase its capital to 4.52 billion yuan; On September 14th last year, Didi Payment was approved to increase its registered capital to 400 million yuan.

At present, among the third-party payment institutions, the highest registered capital is PayPal; The registered capital of UnionPay business is about 2.8 billion yuan; Alipay has a registered capital of 1.5 billion yuan. If Tenpay increases its capital, it will become the third-party payment institution with the highest registered capital.

According to the data, by the end of September 2023, there were 185 non-bank payment institutions in China. In 2022, more than 1 trillion transactions were handled, amounting to nearly 400 trillion yuan, accounting for about 80% and 10% of the total electronic payment business in China, respectively. The average daily reserve fund balance exceeded 2 trillion yuan, serving over 1 billion people and tens of millions of merchants. Mobile payment ranked the world’s leading level, effectively helping the development of the real economy and improving people’s livelihood.

Original title: "Approved by the Central Bank! Wechat payment big move "

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