On February 12th, the Matthew effect in the payment industry has become increasingly severe, from being sent out to actively contracting. Since 2025, the licenses of three non bank payment institutions have been officially cancelled, and the number of existing licensed institutions has further shrunk from a peak of 271 to 172. The competitive situation is still intensifying. At the same time, cross-border payments have become a new arena for existing licensed institutions, attracting various players to compete for positions. According to research conducted by Broadcom Consulting, top domestic payment institutions have formed a snowball effect in their business by leveraging their first mover advantage. Cross border payment merchants have become concentrated in the hands of top payment institutions and their service providers. (Shanghai Stock News)
Scan code to share