What does fourth party payment mean?

The so-called "fourth-party payment" platform refers to a large number of registered merchants or personal accounts, relying on regular third-party payment platforms such as Alipay and Tenpay, without obtaining the national payment and settlement license, violating the national payment and settlement system and illegally building payment channels.

Because the "fourth-party payment" platform has no payment license, it is set up by individuals, and the security of funds is not guaranteed. The broad masses of people engaged in internet financial activities should look for a legal and compliant online payment platform and beware of being deceived.

Tips: The above contents are for reference only.

Response time: 2021-10-12. Please refer to the latest business changes announced by Ping An Bank in official website.

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