It's not true that the money box merchant link has been seized, but the money box merchant link is suspected of imposing beheading interest, profiteering collection, usury and other illegal acts in the form of buying and selling insurance. The cash box merchant Tong Box Technology has completed the change of the payment from the management to the specific business, which violates the relevant regulations of the central bank. The payment of the money box involves borrowing the payment license in disguise or being revoked by the central bank.
compared with its peers, Box Technology charges higher fees, and at the same time, the company sells insurance to merchants. In addition, Box Technology has made the executives of the financial department become the executives of Shenzhen Jiacai Cat P2P platform, and launched loan business through Box Technology platform.
Extended information
On the complaint of 21CN gathering, some users complained about the product "Help You Return" in the box technology platform "Money Box Merchant Link", on the grounds that beheading interest, profiteering collection, usury, etc. were compulsory in the form of buying and selling insurance.
Box Technology has not obtained a payment license. The offline acquiring business is still carried out by selling POS machines. Whether it is insurance sales (without insurance brokerage) or providing loan business diversion for suspected affiliated companies, there is great controversy. Since its establishment, Shenzhen Box Information Technology Co., Ltd., like many third-party payment institutions, has made some moves in business compliance, but it has not yet obtained a payment license.
Reference: The prospect of China Economic Net-Box Technology payment license is not clearly controversial.