According to the notice of the General Office of the State Council on the arrangements for the 2015 holiday, the New Year's Day holiday is from January 1st to 3rd, for a total of three days. In order to ensure the smooth completion of the merchant transaction fund settlement during the holiday season, the relevant settlement matters are as follows: The settlement of the transaction funds during the holiday period is implemented and consolidated, that is, from January 1 to January 3, 2015, the consolidated date is not settled. On January 4th, unified liquidation. All major merchants are requested to make arrangements for funds in advance. About the funding freeze Fund freezing is one of the common means of risk management. For example, if you suspect that a customer's credit card is cashed out, you may take a 30-day freeze, because 30 days is the default billing cycle to prevent customers from performing the "card-based card" violation. At the same time, it avoids the extreme operation of directly suspending the account, which is a milder "soft processing". Of course, since it is a risk control measure, it is inevitable that there will be accidental injuries; if the client can provide clear and proper transaction vouchers, the loan can still be granted after being reviewed by a third-party payment company. The funding freeze of third-party payment companies should be viewed in two ways: 1. Freeze merchant funds. Mainly because the merchant is suspected of illegal or illegal transactions, the third-party payment company actively found the risk control operation; or the cardholder filed a dispute with the bank, the third-party payment company in order to avoid the disputed funds being liquidated, the temporary deduction action. 2. Free client funds. Mainly some of the customer's illegal actions, such as: credit card cashing, fake card transactions, stolen card transactions, illegal money laundering, etc., does not rule out the case of collusion with merchants. According to their own risk control model, third-party payment companies match suspected problem transactions and conduct risk control operations. Some important transactions will be reported to the regulatory authorities or verified by commercial banks. About the arrival delay The POS machine is delayed, not only the merchants are troubled, but the agents are also deeply affected. So why is the delay delayed? 1. Bank system upgrade or failure Bank system upgrade is a common thing. With so many banks in China, the upgrade time and period are not fixed. If the bank of the POS merchant's bank card is just upgraded, it will definitely be delayed, so wait! 2, the acquiring institution system upgrade or failure Whose system is not upgraded or maintained several times a year? Of course, the fault is also unavoidable, and it is definitely impossible to settle the funds, wait! It’s useless to call a POS agent, they are even more anxious! 3. The upgrade or failure of the UnionPay system; The processing capacity of the UnionPay system is so large, regular maintenance is normal, and if it fails, it cannot be avoided! 4, the holiday effect, the amount of funds handled is too large; On the holidays, due to the lack of settlement of funds for many days, the pressure and processing volume of the domestic financial system is very large! Just like when you go to the bank to go through the formalities, then don’t line up? Is there more than one line on Monday? Corner Strainer,Sink Corner Strainer,Sink Corner Strainer Basket,Collapsible Corner Strainer NINGBO NEWMORE IMP. & EXP. Co., LTD. , https://www.newmore888.com
New Year's Day POS trading suspended funds liquidation, less than 4 consecutive days! Please pay attention to POS agents and POS merchants!