Transfer of funds to facilitate research - Hainan Province

Of: Cao Wu Daoyi Paradigm for Concord

Abstract: The transfer of funds is an important part of financial services, and in the modern banking sector in goods, capital and related financial services, capital flows, the channels, carriers and infrastructure, on social capital flows and economic operation have a huge impact. This Hainan fund transfer channels on the basic situation and achievements were introduced, and the transfer of funds work and the reasons for the problems to be analyzed, Hainan Province, to promote the transfer of funds to facilitate the suggestions.

Keywords:: payment and settlement; system; results

First, the current channels of Hainan Province, the basic situation of fund transfer

At present, Hainan Province, China has initially formed the core of modern payment systems to various banking institutions within the system based on the line, the National Check Image Exchange System, city of Hainan Province notes image exchange system, foreign currency settlement system and the bank card payment and settlement systems the coexistence of payment and settlement network.


1. Modern payment system

Modern payment systems including large quantities of real-time micro-payment system and payment system for commercial banks, commercial banks and payment service between the People's Bank to provide the final financial settlement system .2003 April 21, large success of the payment system in Hainan Province, on-line operation; February 20, 2006, Hainan Province, but also small quantities of successful on-line payment system. These systems cover all the application of payment and settlement tool, is supporting a variety of payment and settlement tools and social capital artery movement to achieve real-time funds credited into account and the national interbank payment and settlement day zero in transit, a sum of money can even transfer several times a day to achieve improved cash flow efficiency, has brought great convenience and economic benefits.


2. Within the system of banking institutions in line

With the deepening of the financial system and gradually raise the operating level, Hainan Province, commercial banks experienced a transition from the traditional hand-LaSalle LaSalle further modernization of electronic payment and settlement system transformation, construction and operation have been based on computer network technology lines within the integrated business processing system, and had varying degrees of data sets to achieve the various business lines and the integration of payment and settlement business. If the Bank of China Hainan Branch in July 2004 put into operation a new system of fund transfer system RTS to replace the joint account system line system, replacing the original function of the system e-LaSalle, and other systems with the Bank of China, such as accounting, retail, cash, international settlement, online banking, large-value payments system linkage, to achieve transfer of funds recorded in real time, reaching zero remittance of funds in transit.


3. National Check Image Exchange System

June 25, 2007, the National Check Image Exchange System in Hainan Province, to run a successful on-line. At present the main processing check image exchange system, the amount of 50 million (inclusive) below the city and off-site collection services commission checks, and the use of video technology physical checks into the check image information, image information through the network will pass to the drawer's bank for payment business processing system, which is the second largest, after the completion of micro-payment system is another important financial services system. At present, Hainan Province differences with the mainland practices the concept of the abolition of the city a check, a check will be in different places and the city dealt with all on one platform. The success of the system running on the line to flow into the country as a reality check, "a ticket in hand, around Shenzhou "The dream has come true.


4. Hainan Province city paper image exchange system

From 1 April 2009, the Hainan Province, the city canceled the fund settlement clearing house function, all the city all through the interbank funds to liquidate large micro-payment system to improve the rate of .2008 funds credited into account in July, Hainan provincial city of Hainan Province started the construction of image exchange system project notes. After nearly ten months of preparation, April 27, 2009, notes the same city in Hainan Province, Haikou image exchange system in various banking institutions on the line put into operation, the system of banking institutions located in the handle business between the inter-bank credit will be paper tickets or electronic information into the image, notes the use of information network technology to transfer images and electronic information to provide entry to achieve the rejection of the paper notes.


5. Domestic Foreign Currency Payment System

April 28, 2008, Hainan Province in foreign currency on-line payment system successfully. This system is mainly used for clearing allocation of commercial bank liquidity, business or personal investment, goods and services arising from foreign currency transactions settled in foreign currency to financial institutions in reducing payment and settlement risks and further improve the speed of the liquidation of foreign currency, to facilitate centralized management of foreign capital financial institutions, to improve capital efficiency.


6. Bank card payment system

Bank card payment system is to deal specifically with cross-bank bankcard information exchange system data, unified operation from the China Union Pay Co., Ltd. is China's retail payment system, an important part. In order to meet the banks centralized data processing needs and to enhance cross-bank network of banks service levels, China Union Pay in 2004 adjusted the payment network architecture, the construction of a new generation of cross-bank switching system to focus on funds clearing .2004 November, the bank card payment system to achieve a connection with the CNAPS by the People's Bank of China Chartered opened settlement accounts in real time to achieve the allocation of funds to further improve the efficiency of fund settlement.


7. Fiscal library networking of electronic tax services silver

Currently, Hainan Province, financial, tax, land tax and other departments at the provincial level agencies that through the center of Haikou, the People's Bank of China branch access TIPS center, the commercial bank outlets through its head office access TIPS center, to achieve the province's financial, tax, library , silver and other networking between departments, opened the electronic tax payment services, to achieve the data sharing. Hainan Province networking of electronic tax library tax business banking has become the storage of Hainan Province, the main way of tax collection, more and more taxpayers through online reporting, electronic tax to pay taxes according to law. the taxpayer after the tax return, through the networking of the system directly from the bank account of withholding tax, no longer need to line up bank credit to tax, greatly facilitate the taxpayers . At the same time, reducing the storage process of horizontal networking, will need 3-11 days before the tax reduced the transit time of just 1 day, greatly accelerated the rate of tax storage.


8. Electronic commerce bill system

October 2009, in accordance with the unified arrangements of the head office, Hainan Province on-line banking institutions to run the electronic commerce bill system, and a support network and computer technology, receive, store, send e-commerce bill data messages, providing e-commerce bill monetary payment, settlement services, registration of commercial bills and paper check services, a fundamental solution to the existing commercial bills market transactions inefficient, asymmetric information, high risk and other issues, to promote the paper market development, improve the payment and settlement environment financial environment is important. However, due to less developed in Hainan Province, in addition to the traditional concepts, Hainan people not accustomed to using commercial paper, the system has yet to play in the effectiveness of Hainan Province.


9. Relying on small business payment system offering promissory notes

May 8, 2008, bank draft business officially opened in Hainan Province. Cross-system and system within the cashier bank draft can be handled through the micro-payment system, the system can also be cashier of the banking system for inline , which is Hainan Province to promote the development of non-cash payment instruments and reduce the cash used to improve the level of payment and settlement services is another important step. but business and commercial bills of exchange promissory notes as business development in Hainan Province, is very difficult.


10. Interbank settlement system online payment

Banking institutions in Hainan Province in August 2010 on-line test run of the online payment interbank settlement system, the system is the People's Bank of China following the large-building micro-payment system, another RMB interbank payment system. From past customers through online banking for payment of the business situation, the payer is not the same as closing a bank account, because the payments required commercial banks to deal with manual intervention, business processes longer ��, customers can not pay the business to keep abreast of the results. online payment on-line inter-bank clearing system, the customer service line after the launch of funds in real time arrival, to keep abreast of the results of final disposal operations, providing customers a great convenience.

Second, the results achieved in Hainan fund transfer

Hainan Province of China as the core of modern payment systems to banks within the system based on the line, the National Check Image Exchange System, city of Hainan Province notes image exchange system, foreign currency settlement system and the bank card payment systems, the coexistence of a variety of payment and settlement network, accepted practices for the customer to provide a great convenience for the circulation of social capital and economic operation has brought enormous economic performance.


1. For the customer to provide a convenient transfer of funds

The completion of the payment system to ensure maximum exchange road blocked, to ensure the safety of funds to support exchange rate, commission collection, payroll, real-time tax, real tax, deposit and withdrawal, utilities collection, retention, and other checks payment instruments and payment. especially the on-line micro-payment system, you can maintain the 7 �� 24 hours a day running, to meet the residents paid holidays and night activities needs. even in rural areas, you can also enjoy the construction of payment system the convenience.


2. Payment and settlement system, the release of the development of a large number of liquidity

Hainan Province, a variety of payment and settlement networks of real-time settlement of funds, a significant decrease in transit funds to improve the efficiency of clearing of funds to accelerate the capital turnover rate, currency in circulation faster. On the banking system, the speed of money circulation accelerate the mean compared with the past, with more short-term cash deposits into the banking system is easy, the size of loans in the banking system does not change the circumstances, increasingly multi-bank liquidity. Meanwhile, real-time settlement payment system, the original by the Union Bank occupied in the way funds are released, creating a huge amount of liquidity, was released the joint line way funds can be used at an average of the amount and the average transit time of the product to determine [1]. For example, in 2007 in Hainan Province size the amount of payment systems, banking institutions line the system and cross-bank bankcard payment system handled a total payment business 3.266025 trillion yuan, to hand United the line for a business the average in-transit week, e-LaSalle average transit time of 1.5 days calculated, payment systems and hand-LaSalle period of 2007 compared to the average daily release of 62.636 billion yuan of liquidity; line than in the period associated with the electron in 2007, average daily release of 13.422 billion yuan of liquidity ��.


3. Enriching the payment and settlement system, meaning the application object

Payment and settlement system is the core of banking business development center, but also a new growth point of bank profits. Modern on-line payment system before, the commercial banks through the electronic line system and the city together for the interbank clearing system is mainly types of business credit business . commercial banks and big business systems within the line, micro-payment system is connected, you can apply for an interbank payment greatly increase the types of business, in addition to handling exchange rate, commission collection, collection obligations on a regular basis outside of credit and other credit services, also for periodic debits, deposit and withdrawal micro-payment system, relying on small business payment system offering promissory notes, checks universal remote, telephone banking, Internet banking and other new business, payment and settlement system applications enrich the connotation of the object to attract new customer groups, increasing intermediate business income, and promote commercial banking business innovation and service innovation [2]. reposted elsewhere in the Research Papers Download http://www.hi138.com Third, transfer of funds exist in Hainan Province Problems and Causes

Hainan Province in terms of convenience, although the fund transfer has made great progress. But there are a lot of inappropriate connection, specifically in the following aspects.


1. Low public awareness, to some extent a waste of resources caused by payment and settlement systems

Although the modern payment system provides a wide range of services and extensive settlement, but because of Hainan Province, the public awareness of their low sense of participation is not strong, individual business, little or no traffic, payment system Many advantages have not been fully revealed. As services directly to end customers, large micro-payment system, the national check image exchange system, banks promissory notes, bills of exchange of electronic business information system business banking financial institutions dependent on higher However, due to various financial institutions, business promotion is limited to notice, explanation or counter promotional activities, focused, publicity is not enough, and the lack of long-term mechanism to promote ineffective. by some business and banking customer survey, the majority of customers micro-payment business, universal remote check, bank draft and electronic commerce bill convenient way of clearing the lack of adequate understanding, very few customers take the initiative to require the use of these payment instruments to conduct business. With the deepening of business promotion, business promotion and effective management have emerged in coverage is not high, the volume of business is small, the system utilization is low, and slow growth in business volume, the customer has not fully experience the advantages of the system [3].


2. Non-cash payment instruments with less than ideal situation

Although non-cash settlement payment and settlement system tools enrich the connotation of application objects, which can facilitate the widespread use of the residents of the fund transfer, and enhance the security of transactions. However, the current residents of Hainan Province, the cash is still the most used payment instruments. First of all, the traditional concepts, the residents prefer to use cash, payment and settlement habits difficult to change, the use of non-cash payment instruments are not active, this concept deeply rooted, difficult to change in a short time, especially in rural areas, farmers; Secondly, due to lack of systematic, sustained, long-term propaganda mechanism, the residents pay for product not know much of the promotion of new payment products such as mobile banking, Internet banking, telephone and other means of payment transfer for the majority of the population is also very strange; again, some new tools for the introduction of payment and settlement bank in charge of the business as well as front-line employees do not understand its function, not familiar with the new payment and settlement tool even on paper the referral.


3. The majority of payment and settlement services to poor rural areas

First, because of the lack of services in rural areas to pay, making the payment and settlement services in rural areas, lack of competition, the development of non-cash payment instruments, innovation, lack of motivation to pay species. For example, although the rural credit cooperatives in Hainan Province has issued its own brand bank card, but the development online banking system can only achieve the province's rural credit transfers within the system, not to achieve inter-provincial cross-bank transfers. Second, although the network of rural credit cooperatives throughout the country are basically the township, but some areas did not join the rural credit cooperatives payment and settlement system of rural credit banks and large micro-payment system, affecting the off-site movements of capital, and rural credit cooperatives nationwide check image exchange system, micro-payment system, the business has not yet opened bank draft, cash to move house within the city still exists, advantage of payment and settlement system is difficult to reach rural customers.


4. City notes the use of imaging systems wide enough coverage

Currently, in addition to outside the city of Haikou, Hainan Province, the city cross the other cities and counties to pass bills continued to use "time point, focus on the exchange, direct transfer, the spot sign," the manual switching mode, failure to achieve electronic business processes, such model and the current modern and efficient payment system, fast incompatible, there are also some potential risks.


Fourth, to promote the convenience of Hainan Province, the proposed transfer of funds

Transfer of funds for the development of Hainan Province, problems, suggested the following measures to give full play to the advanced nature of payment and settlement systems and advantages of the public to facilitate the acceleration of social capital turnover, and the Hainan Province, to run social and economic good health.


1. Step up publicity to promote and improve the effectiveness of the publicity

Positive guidance through the promotion of financial institutions to mobilize the enthusiasm, promote long-term mechanism to establish business, rich in publicity, promotional materials, ensure the effectiveness of the publicity. To strengthen counter publicity, printing brochures or promotional brochure issued, put up publicity in the business hall painting, play promotional videos; organize large-scale joint promotional activities, by hanging banners, on-site lectures, on-site for other ways to make the public fully understand the advantages of application of the payment system, payment system and gradually increase the impact on society.

2. To strengthen the awareness of financial services customers, for the promotion of non-cash payment instruments

First, all financial institutions should focus on individual customers to introduce a variety of payment instruments, particularly the use of bank cards to help customers to gradually establish a sense of self-service, from hardware and software measures both started, and effectively improve the individual payment and settlement services; the second is the unit customers to promote e-commerce orders, bankers drafts of the application, rich types of bills to increase public payment options, and guide the charging unit to accept small periodic debit payment service, social fund transfer payment system into full play the main role, nurturing people's non- Cash used to reduce the use of cash.


3. To improve the payment and settlement services to the environment in rural areas

One is to speed up the postal savings banks, rural credit cooperatives in rural areas access to modern payment system processes network, expanding telephone banking, Internet banking functions, to facilitate the farmers fund transfer; second is to guide farmers to water, electricity, telephone charges and public utilities charges paid through the local agent of rural financial institutions, and gradually develop tools for farmers to use non-cash settlement of the habit; third is to encourage and support has not yet opened the National Check Image Exchange System, micro-payment system for rural credit cooperatives cashier opened the business of such business, use of Fast payment and settlement system for transfer of funds for the enterprise.


4. A province-wide promotion of city bills imaging system, payment system services and give full play the role of social and economic

The People's Bank of China to actively coordinating relevant departments of customs, fiscal, banking institutions and other units, for the end of 2010 and gradually extended to all cities to expand to address potential risks in passing bills and manual labor input cost, give full play to modern payment settlement system to serve the community economy.


References:

[1] Li Chunjing. Status of payment services in rural areas and improvement approach - Based on a survey Bozhou Gujing [J]. Financial Accounting, 2010 (7) :44-45.

[2] Song Xiaoping, Zhao Wenrui. Jilin payment and settlement environment in rural areas report [J]. Payment and settlement communications, 2009 (3) :30-32.

[3] He Rongqing. Payment and settlement system status, demand and countermeasures [J]. Financial Accounting, 2007 (5) :32-34. Links http://www.hi138.com Research Papers Download