Another payment institution has "sadly exited", accelerating the industry's tail clearing

On November 18th, Jinshi Data reported that Guangdong Yinjie Tong Electronic Payment Settlement Co., Ltd. will stop accepting new acquiring payment business applications starting from November 1st, 2024 due to business adjustments, becoming one of the payment institutions that have canceled payment licenses or exited the market this year. Industry analysis suggests that strengthened policies and regulations on third-party payment business will lead the industry towards compliance and consolidation.

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