Payment and settlement system on the main problems facing the development and recommendations

Abstract: China's payment and settlement system to electronic payment and settlement from the city line clearing system development associated with large, micro-payment system to a modern payment and settlement platform payment system, and gradually establish a more complete payment and settlement system, but because the system construction not fully take into account access and other related systems, leading to the development of the system, there are still some problems, this paper focuses on payment and settlement system from the development to proceed with the analysis of the problems, the development of the payment system put forward their own proposals plain, so the development of China's payment and settlement system more relevant to consider the relevance of business systems to improve system efficiency.

Keywords: payment and settlement issues recommendations

Payment and settlement system is to support social and economic development, financial operations of critical infrastructure. Build a safe and efficient payment and settlement system is conducive to the efficient functioning of payment and settlement tool, is conducive to maintenance of systemic risk by controlling the stability of the financial system, there conducive to safeguarding financial security and stability.

After years of efforts, China's payment and settlement system has taken shape, forming a modern payment system to China (including large, micro-payment system as the core, transfer of funds within the commercial banking system based on the line, clearing around the city China's payment and settlement systems co-exist system architecture, established a "three votes a card three-way" as the main payment and settlement systems, development of credit payment instruments. With the continuous development of modern science and technology to promote online payments, third party payment electronic payment instruments, payment and settlement system to promote continuous improvement. the current payment and settlement systems, covering almost all payment applications to run fast for the social funds provide an important channel, but China's payment and settlement systems still exist in the system relatively independent of the dispersion, partitioning, price management imperfections and other deficiencies. specifically in the following areas:
First, the payment system and other appropriate systems division
(A) and account management systems division
People's Bank of modern payment system and the RMB settlement account management systems are two relatively isolated system, the lack of a modern payment system account information for clearing the test of function, making it easy payment and settlement risks. Bank settlement accounts for the financial settlement is involved in the basic unit of But, as the People's Bank of modern payment systems and bank account management system to run independent of each other, the lack of mutual information sharing. Thus, in the payment system can not determine the notes of the financial institutions to provide account information to legal, compliance, making it possible to not seek to open bank settlement accounts ("underground black households' financial business, to form the corresponding financial risks.

(B) and relatively isolated city bills settlement system, leading to increased risks
The current bills of the city commercial banks clearing system developed by the local People's Bank of uniform operation, adopted by the national settlement patterns are inconsistent and some areas of the city bills clearing system and commercial banks accounting system linked to real-time city funds settlement patterns, and notes some areas city commercial banks clearing system and accounting system in the application are two separate clearing systems, the implementation of the "city repeatedly exchange difference on the final settlement of funds" approach, financial institutions whether in the People's Bank overdraft, you must note the day 17 points clear after a time-sharing can be found, at a time when the exchange notes have been accounted for, once the day the People's Bank overdraft deposits in financial institutions will be a deficit, not only gives the line of accounting account the difficulties brought about peace, more money for the People's Bank of serious risks.

Second, the system re-build line
Commercial bank fund transfer system, the duplication of resources can not be shared, resulting in a waste of resources, influence the direction of intensive management of commercial banks in the promotion of large-value payment system before the construction of the commercial banks have liquidated their own line of transfer of funds within the body system, promote the use of large-value payment system, the transfer of funds due to our body system and use the built-line remittance of funds without paying the associated costs, and individual people of the region's payment system banks to reduce the operating pressure, does not allow line remittance business handled by the payment system, causing the line fund transfer system of duplication.

Third, feedback channels are
Poor communication and feedback channels of information, limiting the effectiveness of the payment system further play. People's Bank as a payment system maintainers and managers do not establish a sound communication mechanism can not grasp and understand the various financial institutions in the payment system operation and maintenance as well as risk prevention and other aspects of the problems, not the People's Bank to facilitate the strengthening of financial supervision and maintenance of the stable operation of payment and settlement systems.

Fourth, the separation of system construction and pricing
People's Bank as payment and settlement system builders and maintainers, while construction of the system should be the appropriate fees along with implementation, payment systems and auxiliary systems as a check image exchange system on-line since 2006, has not been developed to promote the use the corresponding price of services. commercial banks accepting the check image exchange business, in addition to developing the appropriate system interface, but also for scanning images and in-kind notes bills pass, the cost of development costs, labor costs, equipment costs are relatively high, but the People's Bank of charges in addition to fee and 0.6 yuan fee, there is no corresponding standard other charges, resulting in high costs of the business, thus affecting the business. Links to free download Center http://www.hi138.com
With the rapid development of financial markets, payment and settlement system to undertake the liquidation of funds, increasing pressure, the construction of payment and settlement system is also more and more important, is to enhance payment and settlement system for the construction of the following recommendations:
(A) strengthening the payment and settlement system of the People's Bank in the intensity of
With the rapid development of market economy, payment and settlement system infrastructure in the national economy is becoming increasingly clear that economic development dependent on the payment and settlement system will be increased. People's Bank as payment and settlement of the organizers, managers and The final settlement of social capital are, in payment and settlement system in the People's Bank should proceed from the overall point of view, the holistic, scientific, systematic study of payment and settlement system and the relationship between economic development and building national security, and efficient payment and settlement system at the same time, study and explore the scientific management system to prevent and reduce the risk of the process of transfer of funds.

(B) continue to improve payment and settlement system, to improve its position in the national economy and the role of
Safe and efficient payment and settlement system for the smooth transmission of monetary policy, financial markets close organic links to accelerate the flow of social capital, improve resource allocation efficiency, prevent financial risks is important. People's Bank should take into account the payment system safe and efficient operation of the situation, the account management system, the city clearing payment and settlement systems into the architecture.

(C) integrated
Line will be the commercial banks into the remittance business payment system based on payments received within the business line flag is set to the line of charge, in order to improve payment system efficiency, reduce unnecessary waste of resources.

(D) to accelerate the improvement of payment and settlement service prices
The original price of the basic settlement services can not meet the existing standard payment and settlement services and speed of economic development, the People's Bank of basic settlement services to respond to price re-sort to confirm the development of the existing payment and settlement system and settlement tools to adapt to the new service price system. Links to free download http://www.hi138.com