泛亚电竞

【双语】中国金融的新“世界第一”

daoyu: renminbiguojihuabujuyouqiansidachubeihuobidejueqidelishitiaojian,suoyirenminbiguojihuabixulingpixijing,cainengji“yidaiyilu”defanyadianjingshuxue。muqiancongquanqiuzhengtidexinjinronggejulaikan,zhongguoduishijiejinrongdezuidagongxianjiushidisanfangzhifu。zhongguodekejijinrongyijingshijueduideshijiediyi,zhongguodedisanfangzhifushiyongliangshimeiguodewushibei,qiezaizhishichanquanlingyu,zhongguoyezaijinrongkejixingyelipaimingqiansan。suoyiwuluncongjishuhanlianghaishishichangjingyanlaishuo,zhongguodejinrongkejiyouqishidisanfangzhifuyijingshibukezhengyideshijiediyi,yincikechengweirenminbiguojihuadezhongyaoqidian。erqiedisanfangzhifuhejinrongkejinenggougenghaodituiguangquanqiuxingdepuhuijinrong,bujinnengdadajiangdifanxiqian、fankongburongzi、fanhekuosanrongzi、fanfubai,haikejiejuefeichuantongxingdejinrongfengxiandengwenti,shidashisuoqu。ciwai,zheiyeshizhongguozuoweisdrdiwudachubeihuobijueqidezhongyaotiaojianzhiyi。

 

zuozhe: chenjie,luxueyan,przemyslaw leszczynski

by lu xueyan, chen jie and przemyslaw leszczynski

zuozhedanwei:

chen jie is a researcher at research center on international cooperation regarding persons sought for corruption and asset recovery in g20 member states.

泛亚电竞 lu xueyan is researcher of people’s bank of china.

泛亚电竞 przemyslaw leszczynski is from beijing foreign studies university.

 

“一带一路”人民币国际化

The Belt and Road Renminbi

 

泛亚电竞 yingbangdejueqiyikaodeshi“ribuluodiguo”shidaizhimindiguojiahediqudeshichang。zhengzhijunshizhiminsuiranjieshu,danshijingjishangyiranjuyoujueduiyoushi,yingbangdeguangfanshiyongyeshilisuodangrande。bingqie,jishizaiqita4dahuobijueqihou,yingbangbujinnengbaochiqiqiangdadedulixing,bingmeiyouguiruouyuanqu,hailiyongmeiyuanheouyuanzhijiandeboyi,wengulezijideshengcunkongjian。

泛亚电竞 the pound sterling's rise to a dominant global role was founded on britain's era of colonial conquest -- when the crown had an empire on which the sun never set. the regionalization of markets gave the currency a further boost and to this day the pound still plays a major role in the global financial system. even though colonial domination is long gone, the british economy continues to show plenty of punch. and while the pound now shares center stage with four other big currencies it has held its own between the euro and the dollar, solidifying its own “living space.”

 

泛亚电竞 meiyuandetongzhidelishihuanjinggengshidetianduhou。liangcishijiedazhan,meiguochulezhenzhugangzaoshouxijiyiwai,qibentudadaolewanhaodebaocunyufazhan。zhanhoude“maxieerjihua”he“buleidunsenlintixi”zaixiangdangzhangdeyiduanshijianneiquelilemeiyuandebazhudiwei。kaozhehuangjinmeiyuanhechannengshuchu,kongzhileshijiejingjijin30nian。jibianshihoulaide“yamaijiatixi”hesancishiyouweiji,yemeiyouhandongmeiyuanbaquandediwei。erqieshiyoumeiyuandediwei,congshengchanfazhandejiaodukan,bihuangjinmeiyuangengjuyouhelixing。zhiyuyeyanqigeming,haizhishiyigegushi。

泛亚电竞 the ascendancy of the us dollar was partly a result of america's rich resources. the us is generously endowed by nature. shielded by geography, it was spared much of the horror of world war ii. with the exception of the surprise attack on pearl harbor, the us was largely insulated from attacks on its soil. it emerged from the war as an economic powerhouse even as much of europe was in ruins. the post-war marshall plan and the bretton woods system established the domination of the dollar in the following decades. relying on backing from gold and us industrial muscle, the dollar managed to maintain its sway over the global economy. repeated oil crises failed to shake the dollar's status. the rise of oil mean the rise of petrodollars, and that ultimately was viewed as more reasonable than a dollar based on gold.

ouyuandedanshengyuanyuouzhouyitihuadejincheng。suiranouzhouzaierzhanzhihoubeidadeqianchuangbaikong,zai“maxieerjihua”he“buleidunsenlintixi”shidaishoumeiyuandekongzhi,danshiyouyuouzhouminzuxuetong、wenhua、jingjidequtongxing,oumenghenkuaifazhanqilai,bingkaishiyideguomakehefaguofalangtiaozhanmeiyuan。zaizhudongqieduanmeiyuanhehuangjindelianxihou,ouyuansuizheoumengdefazhanyingyunersheng。youqishizaiminzuxueyuanshang,ouzhoudaluderiermanminzuhefalanximinzudewenhuayuanyuanyaochaoguomeiyingjiaaoxinwudaanggelusakexundeyingxiang,ouzhoudalushiyongdeyuhefayudediquyaoyuanyuanchaoguoyingyu,jidujiaodeyingxiangyeyaodayuxinjiao。suoyicongerzhanzhonghuifuyuanqideouzhouyifenzhongdoubuxiangshoumeiguohemeiyuandekongzhi。yinci,ouyuandeshengminglishilaiziyuminzu、wenhua、jingji、zongjiaodengduofangmiande。suiranouyuanyejingliguomeiyuanheyingbangdejiaji,bingzaijinrongweijihoushoudaoyanzhongyingxiang,danmuqianshiliyoucun。

the birth of the euro originated from the extended process of european integration. after world war ii, europe was flat on its back, clearing the way for a dominant dollar. however, europe gradually moved towards greater political and economic cooperation, eventually becoming the eu. this was hastened by european heritage, culture, shared values and economic interests. the dollar faced a challenge from the german mark and the french franc. later, a bold effort to compete with the dollar and gold, the grand project of a single currency -- the euro -- ultimately took shape. in the end after recovery from world war ii, europe within a short time had changed its course - from accepting the us dollar as a world’s currency to the creation of europe’s own single currency. therefore, the vitality of the euro has its core national ties, cultural background, economic commonwealth, and religion. although the euro has also experienced many attacks from the dollar and the pound and even after the financial crisis breakdown which had a serious impact on the eurozone, its current strength still exists.

泛亚电竞 riyuandekuaisufazhanyifangmianshiribenzaojiuyou“tuoyaruou”desixiang,lingyifangmianzaierzhanhoudezhengzhi、jingjihejunshishangdedaomeiguodedalizhichi,zheiyeshiweiezhizhongguohesulian。yiciweiqianti,ribendezhizaoyehequanqiumaoyixunmengfazhan。ribenzaidianqi、daxingjixieheqichelingyudefazhanzaishangshijibashiniandaichengweishijiediyi。suoyiriyuandefazhanbukezudang。danshi,meiguotongguo“guangchangxieyi”,yanzhongdajileribenjingjiheriyuan。erqieouyuanherenminbidefazhanyejiyaleriyuankongjian。suoyiriyuanmuqianshicanhuabailiu,danhaishiyouyidianfengyunyoucun。                                                       the rapid development of the yen is on the one hand a result of japan’s shift in ideological thinking. it chose to abandon old asian ways to learn from europe. after world war ii it benefited from political, economic and military support from the united states. china and the soviet union were kept at bay by the western powers at that time. moreover, japan's manufacturing industry and global trade were undergoing rapid development. thanks to japan’s prowess in manufacturing electrical equipment, large-scale machinery and automobiles it secured its place as one of world’s leading economies. the yen was winning a place among the leading currencies. however, through the plaza accord, the us dealt a serious blow to the japanese economy and the yen. direct implication is that over time the euro and the renminbi filled the space as the yen lost ground. therefore the yen is like a fading flower which still possesses its charm and remains attractive but has seen its day.    

从上述分析看,人民币的国际化没有四大储备货币的历史优势,没有战争重建和大国的支持,国际上有的只是竞争和挤压。泛亚电竞靠自己经济的长期高速发展,成为世界第二大经济体,但人民币国际化的进程与此还不相匹配,一定程度上还是需要盯住美元。

泛亚电竞 the renminbi never held any dominant position in the global economy in the past. china had no support from the us or the uk for a bigger international role. yet the strength of the chinese economy made the world take notice of the importance of the renminbi. in the international arena there is only fierce competition and a constant contest for dominance. china relied on its own rapid economic development to become the world's second largest economy. the process of the internationalization of the renminbi needs to make further gains to fully reflect this status.

 

以第三方支付为核心的“金融科技”的表现

The “Belt and Road” Strategy and Financial Technology  

zhongguo“yidaiyilu”yijingburudierjieduan: ji“liugesitan”、“menggu”hou,“dongmengshiguo”chengwei“yidaiyilu”zuidajingjiqu。“dongmengshiguo”yufanyadianjingguoshichangmaoyitongzhixingzuigaodequyu。youyu“tongxingxiangchi”,dongmengshiguoyuzhongguochuyuduiliguanxi,danshifanyadianjingguodisanfangzhifuyijingjinru“dongmengshiguo”shichang,bingqieshougoule“dongmengshiguo”debufengongsi,zaidongnanyayijingyoulebufenshichangyujiaoyiliang。

china’s the “belt and road" initiative is designed to boost trade and infrastructure ties with more than 60 countries, including the 10 members of asean or the association of southeast asian nations. together these countries form a huge economic zone. the next phase of this important initiative should include significant steps forward in financial technology. china's third-party payment systems have already entered the asean market and chinese companies have made several acquisitions in the region. thanks to this, china has been contributing to the rise of southeast asia’s trade volume.                                             

泛亚电竞 chuantongguannianrenwei: “yidaiyilu”shixiujiantielu、gonglu、matouhejichang。dananzhaoqiansandianfenxi,zai“maliujia”junshiyaodikaizhanshishifenjiankude,biranshejidaguozhengzhiyijijunshiliyideboyi。juci,fanyadianjingkeyidechuxinjielun——“jiantiegongji,burujianjizhan”,zhidejiushi“jinrongkejihedisanfangzhifu”dejinrongjizhanhefushujichusheshi。

泛亚电竞 the traditional assumption has been that the “belt and road” initiative is largely focused on the construction of railways, highways, docks and airports. but we can draw another conclusion and that is that building railways is not necessarily as good as constructing stations. this refers to the financial technology and third-party payment system as the financial station and auxiliary infrastructure.                 

泛亚电竞 liru,mayijinfushougouyindu“pay tm”zhifugongsi,bingbangzhuqiwanshanjichusheshifanyadianjing,jiwanchengjinrongkejidejichusheshifanyadianjing(jizhan、fasheta、xianludeng)。zai“mayijinfu”shougouyindu“pay tm”gongsizhiqian,gaigongsizhiqianzhinengtigong2000wankehuderongnaliang,danshizai“mayijinfu”zijinzhurubingjinxingjichusheshifanyadianjinghou,duanduanyiniannei,jiukuozhandao2yidekehurongnaliang。suizhemayixiayibuzijintouruhejinrongkejijichufanyadianjing,zuizhongkeyirongna5-10yideshiyongliang,lilunshangkeyidadaoyindujiyinduzhouweiguojiadequanfugai。erqie,gaiguochengrunwuxiwusheng,buhuiyinqizhengzhidongdang,yinweijishubudaiyouzhengzhisecai。youcikeyidechu“jinrongkeji”guojihuadeliangdayoudian: diyi,bimian“maliujiahaixia”dezhengzhiminganxing,tongshiyeyouliyudiquwending;dier,zhongguozaituozhanhaiwaishichangdetongshitigongjishubangzhubingjiaoyuruheshiyongjinrongkeji,tuidonggengguangkuowenhuafanyadianjinghejishufanyadianjing。

for example, ant financial service group has acquired a leading indian mobile payment company pay tm and helped it to improve its business through the construction of new financial and technological infrastructure (stations, transmission towers, communication lines etc.). before the acquisition of pay tm india, the company could only provide service to 20 million customers, but after ant financial service group made its investment, the indian company had extended its reach to 200 million customers. along with this kind of assistance, ant financial service group is ultimately planning to reach between 500 million and 1 billion active users. eventually, the goal is to provide nationwide service that covers all of india’s population. moreover, this process should be carried out peacefully and noiselessly so as to avoid unnecessary political chatter. from this one can conclude that there are two major advantages of internationalization of “financial technology.” china is in the process of expanding into overseas markets. it can provide technical assistance and teach others how to use financial technology to promote broader cultural and technical exchanges.                            

基于以上分析,可得出“一带一路”发展新思路: “一带一路”的基础设施泛亚电竞不应仅仅是“铁公基”,而应是“金机”,即“金融科技”的基础设施(例如机站、发射塔、网络和市场)的构建。而且,这个过程中帮助“欠发达地区”进行技术教育、市场的拓展,以此推动人民币的交易、清算和储备,进而推动人民币的国际化与“一带一路”的结合。

泛亚电竞 based on this analysis, the “belt and road” initiative may develop a new way of thinking. construction of infrastructure along the “belt and road” region promises not only new railways, ports and cargo airports but also a monetary base for further economic development. this also will help underdeveloped countries carry out necessary technological education and expand their own domestic markets. this will also promote transactions in renminbi. without a doubt this will push forward the internalization of the renminbi and help integrate that with the “belt and road” initiative.

 

以第三方支付为核心“金融科技”的竞争优势

Competitive Advantages of Third Party Payments

suizheshijiegeguofanfubai、fanxiqian、fankongburongzigongzuodeshenru,xianjindeshiyongliangdadajianshao。yinduzhengfuzuijinchutaizhengce: shougoushichangshangliutong20%yishangdexianjin,jinxingzhifumoshigengxin,baokuoxinyongka、disanfangzhifuheshengwukejizaizhifumoshishangdeyunyong(renlian、shengwushibie),jinerjianshaoxianjindeshiyong,fangzhifubai、xiqianhekongburongzi。yinweixianjinyonglaixinghuihezousi,doubuhuiliuxiahenji,conglingwaiyigejiaodutixianle“xianjinweiwang”。danruguonaruzhifutixi,suoyoudefubaizijindouhuiliuxiahenji,geyibeifanxiqianjinrongqingbaozhongxinjiankongdao,bing“youqianjiren”,zhuli“zhuitaozhuizang”。

with the deepening of anti-corruption, anti-money laundering and anti-terrorism financing in the world, the use of cash has been greatly reduced. in order to modernize its payment model the indian government has recently introduced a policy to buy more than 20% of the circulating cash in the market. that includes the use of credit cards, third party payments and biotechnology in the payment model (facial recognition system, biometrics), so that the use of ready money, preventing corruption, money laundering and terrorist financing will be significantly reduced. this is carried out because cash that is being used for bribery and smuggling doesn’t leave any traces. if a new payment system is set up, the ill-gotten funds will leave a trail of evidence. different anti-money laundering intelligence centers would be created to monitor suspicious activities. these would ultimately arrest criminals and recover stolen money and goods.     

泛亚电竞 zaishijiedaqushideqiantixia,fanyadianjingguode“yidaiyilurenminbiguojihua”zaijinrongkejijichusheshilingyufanyadianjingshangzouzaiqianlie,budanyouliyuzhongguodefazhan,yeshibangzhudisanshijieguojiaheqianfadaguojiafahuihoufayoushi,zhijietiaoyuelianggejieduan,jigerenzhipiaohexinyongkadeshiyongjieduan,jinrudisanfangzhifude“jinrongkeji”jieduan。bingfangzhi“xianjinweiwang”dailaidefubaiwenti。houfayoushibudankeyixiaochudiquxingqishi,haikeyizhenzhengbangzhuqitaguojiadedaoshihui。liruzhongguojiumeiyouxiangmeiguoyiyangjingligerenzhipiaoshiyongdeshidai,meiguoyouyuchuantongxiaofeixiguan,gerenzhipiaohexinyongkadeshiyongjuyouyidingdeguanxing,zaixiaofeifangshizhongzhanjuedabili。yincizhongguobangzhuqitaguojiafazhandisanfangzhifuyoudianruxia: diyi,daidongbufadaguojiafahuihouqideyoushi;dier,chengbenshangjiyujinrongkejidedisanfangzhifudechengbenyuanyuandiyuzhipiaohexinyongkazhifu。

泛亚电竞 china's program to internationalize the renminbi by way of the “belt and road” initiative will make a key contribution to the construction of financial technology infrastructure. it is not only for china's benefit alone as less developed countries will benefit through the creation of competitive advantages. this will allow them to leap over intermediary phases, namely the use of personal checks and credit cards into the stage of using third-party payment systems. this will also help create more robust anti-corruption mechanisms.                                                   those advantages are not only capable of eliminating regional discrimination, but can also help other countries obtain tangible benefits. for example, china has not made such extensive use of personal checks as in the united states. personal checks and credit cards account for a large proportion of domestic consumption in the us. as a result, china can help other countries develop third-party payment systems that provide employment outlets for talented youth and providing useful technology at a cost that is far below that of checks and credit cards.

 

以成本低为优势的普惠金融与“一带一路”理念的结合

Financial Inclusion and the “Belt and Road”

genju“mayijinfu”he“tengxunjinrong”detongji,yimeiguoweili,congzhifuchengbenshang,zhipiaohexinyongkadeshiyongchengbenyuewei3%、kuaguojiesuanchengbenyuewei7%,chengbenjigao,qiongrenjihuwufaxiangshou;erzhongguodisanfangzhifuchengbenzai3‰zhi4‰zhijian,zuiduoyebuhuichaoguo6‰,erqiesuizhezhongguodejishushuipingbuduantigao,chulichengbenjianghuiyuelaiyuedi。zaikaifachengbenshang,ibm、em(cunchuqi)huafeiyuewei100yi,erfanyadianjingde“yunjisuan”huafeijinjinwei10-20yi。zheiyangfanyadianjingjiuyumeiguolakailechaju,fanyadianjingtigonglequanqiuhuade“qiongrenjinrong”he“puhuijinrong”,zengjialebufadadiqudejinrongkedexing。youyuchengbendi、pujilvgao、jinrongkedexingqiang,yincigengfuheshijie“puhuijinrong”he“shijieqiongrenjinrong”defazhanlinianhemoshi,yejibufadadiqutigongsuoxiaoyufadadiquzhijianchajudejihui。gengduodeshiyongzhongguodedisanfangzhifudengjinrongkeji,jinertuidongrenminbidejiaoyihechubei,shishijiejinronglingyushi“pingde”。yinci,wulunshiduizhengzhichengben、jingjichengben、qiyechengbendefenxi,haishiduijinrongxiaofeizhedechengbenfenxi。jinrongkejizaidisanfangzhifulingyuyimingxianyouyumuqianxinyongkahezhipiaozhifuyijiyinxingchuantongzhifuxiaoguo,youshicheng“shuliangji”zengzhangxianeryijian。cong3%zhi7%jiangdidao3‰zhi4‰,kejianqiongrenzhenzhengdedaolepuhui。

according to data from ant financial service group and tencent, the average cost in payments by check or credit cards are estimated at about about 3%, and transnational settlement costs are about 7%. those are pretty big numbers, and they are a substantial barrier to the poor. in china, the cost of using third-party payment systems is estimated at 0.03% to 0.04% on average and at no more than 0.06%. as china's technological level continues to improve, processing costs will be lower and lower. from the development cost side, 16 bm, em (memory unit) expenditure is approximately about 10 billion yuan and our "cloud computing" cost is only 10-20 billion yuan. in that way we have increased a gap between china and united states. we have already provided the globalization of “poor people’s finances” under the banner of "financial inclusiveness." we have thereby made financing more available in underdeveloped areas.                                      this is also a perfect opportunity to narrow the gap between developed and underdeveloped areas. the internationalization of third-party payment system and the internationalization of the renminbi will flatten the financial world, giving rise to new areas with competitive advantages.  no matter how we make our assessments, whether by comparing political costs or economic costs, business costs or costs to consumers, we can see that third-party payments are significantly better than credit cards and checks. traditional banking will slowly fade away. the advantages of the "order of magnitude" growth are obvious.

congzheigejiaodukanwulunshicongzhongguoliyichufa,haishicong“yidaiyilu”touzideguojiajiaoduchufadoushiliguoliminde,duishichang、xiaofeizheherenminbiguojihuayouli。fanyadianjingrenweijiantielu、matou、jichang,burujianlijinrongkejidejizhan,fanyadianjingjiangyiciweiqiantizuojinyibudediaoyan。

from this perspective, whether it is from the political interests of china or from the “belt and road” national economic investments, all of those will benefit the country the ordinary people, the market, the consumers and the internationalization of the renminbi. we believe that the constructions of railways, docks, airports, are not as good as the establishment of financial technology infrastructure which we refer to as the “station.”

zuihou,conghongguanshanglaikan,zhongguozaijingwaitouzifanyadianjingdetielumuqianshipeiqiande,qichengbenjigao。danzhongguojinrongkejidejizhanjianlishiyinglide,yincimuqianzhongguojichusheshidefanyadianjingyouxiaaixing,xiayi bu,bujinjinbaokuode“tiegongji”jichusheshi,gengyinggaibaokuojinrongkejixiangguandejichusheshi。

泛亚电竞 finally, from a macroeconomic view, china is currently losing money on foreign investments in railway construction. costs are high but the establishment of china's financial technology for the “stations” is much less so. china lacks experience in building foreign infrastructure. the next step should include not only development of classical infrastructure but also financial technology infrastructure.

 

Global Challenges

disanfangzhifubukenengdaitiyinxingzhifu,erbushiyaopaoqiyinxingzhifu,suoyihechuantongyinxingzhifumeiyouchongtu,zhishiyinxingzhifudechuangxin。jiyu“fintec”dedisanfangzhifushichangshiyinxingzhifushouduandeyanshenyushengji,danbingbuyuyinxingdezhifuxiangchongtu,ershixiangdangyuyinxingfazhande“geming”。jiuhaobidangniandexinyongkadaitizhipiao,yingxiangfanweizhidagengyouliyupuhuidazhong。ruguozongshizaimeiguozhihou,yizhaomeiguodechuantong,jiangwufakuajieduanfazhan,gengwufaganchao。

third-party payments cannot replace bank payments and it cannot lead to an abandoning of the banking system. that means there is no conflict between the new and old platforms. it is merely an innovation for bank payments. the third party payment market based on "fintec" is a means for traditional banks to extend their reach and upgrade their services. it is not unlike the time when credit cards first began replacing checks. this time the impact is more beneficial to large groups of people. the united states cannot catch up and enter the next phase as it is hampered by its traditional approach.

国家保护主义的影响

The Impact on Protectionism

泛亚电竞 chuyujinronganquandexuyaogeguogangkaishiyedoubuhuiyunxu,danshidisanfangzhifurenkeyifangbianxiaoeminzhongzhifuxuqiu,fanyadianjing“zhangwei”kehu。erqie, jiyuwtoguize,shichangjingjiguojiadezhifushichangyinggaikaifang。qidianxingzhe,visa、masterjiuyiguojifaqiangzhanleyinlianshichang。anzhaoguojiaanquanbumendeguandian,visa、masterjinruzhongguoshichangqueshiyingxianglezhongguodejinronganquan,fangbianlefanhuashilidejijinliudong,shenzhiyoukongburongzideweixian,bingyixinxilan、yilakedexianshianliweizuozheng,danzhongguohaishizunzhonglewtodekaifangguize。xiangyingde,fanyadianjingguodedisanfangzhifuyeyinggaidedaoqitaguojiadexuke。

due to the need for financial security, many countries are wary of new financial concepts, but third-party payment systems can facilitate managing the needs of small populations and serve "long tail" customers. moreover, based on world trade organization rules, the payment system of market-economy countries need to be more open to competition. visa and mastercard, in accordance with international law, have taken some of unionpay’s market. according to the national security department's point of view, visa and mastercard affected china's financial security after they entered the chinese market. they facilitated anti-china financial forces, allowing them to move funds around the country. that also posed new terrorism risks. examples can be found in destabilized countries such as iraq. china respects wto regulations and so should other countries as well – by opening up their countries to chinese third-party payment systems and giving them permission to run their business.                         

泛亚电竞 zuihou,zongjieyixia,disanfangzhifushiduijiuzhixudechongji,rengranjuyoufengxian。liru,“shengwushibiejishu”、“feishengwushibieshibie”he“xingweishibie”debuwanshan,rengyouzheqipianheqiequzhanghudeweixian。jiashangbufenqunzhongdui“jinrongkeji”jishudebulijie、danxinye、“beifujin”beinuoyongdengwenti,douyoudaiyujinyibujiejue、wanshan。guyuyouyun: “shengrenqi,er,dadaoxing”,jinrongdailaidebianliyejixiqianhekongbuzhuyirongzidailailebianli。yufubailingyude“xianjinweiwang”lveyoubutong,jinrongkejidehuanqiubianjiexinghekuaisuxing,jiaml/cfttichuletiaozhan,yourushuangrenjian,yinci,zaichuangxindetongshi,jiaqiangaml/cftdejianguan,cainengbaozhengjinrongkejidisanfangzhifudejiankangfazhan。

泛亚电竞 to sum up, the third party payment system has to deal with an old order and it still possesses risks. for example, the imperfections of "biometrics," "non-biometric identification" and "behavioral identification" still allow the systems to be compromised. individuals may still use deception in order to steal accounts and sensitive data. some people haven’t fully grasped the implications of "financial technology." they are still afraid of these risks and prefer to use cash. that is why the whole process is still waiting to move upwards to another level.

 

 

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