What is Yiwu Pay? Yiwu Pay Review, Features

Yiwu Pay was founded in 2012. It is a licensed third-party payment company under Zhejiang China Commodity City Group Co., Ltd. with a registered capital of 180 million yuan. It focuses on "payment and settlement" and provides enterprises with compliant, secure and efficient full-link trade payment services.

Yiwu Pay Payment Service Introduction

It has currently connected with 400 mainstream banks and established cooperation with channels such as the ChinaGoods platform and UnionPay QuickPass. Through Internet payment services, cross-border RMB business, digital RMB business, etc., it helps business operators and related companies reduce costs and increase efficiency, ensure the security of their funds, and help the market create a compliant and secure trading environment.

Payment Methods

1. Scan code to pay

Scan code payment refers to the process of completing payment by "scanning" the dynamic QR code generated when placing an order in an online mall through WeChat/Alipay. Users only need to hold a smartphone with the relevant APP installed and can complete the payment conveniently and quickly when there is a network.

2. Quick payment

Quick payment means that the cardholder does not need to open online banking. He or she can enter the bank card information, identity information and bank-reserved mobile phone number on the Yiwu Pay page, which will be verified by the bank. After successful verification, it can be activated. After successful activation, if the Yiwu Pay account is linked, each payment only requires entering the account payment password and mobile phone dynamic verification code to complete the payment.

3. Online banking payment

Online banking payment means that when the cardholder pays for an order, he/she selects the online banking payment method, jumps to the bank's online banking interface, and follows the bank's online banking interface to complete the payment. Users do not need to register or log in to a Yiwu Pay account, but only need to activate the online banking and online payment functions in advance to complete the payment through a bank card.

4. Balance payment

Balance payment means that Yiwu Pay users use the available balance in their Yiwu Pay accounts to transfer, withdraw cash or pay for orders. After the transaction is completed, the corresponding funds will be deducted from the user's account balance. To use balance payment, you only need to enter the payment password to complete the transaction conveniently and quickly.

Yiwu Pay Yiwu Payment Security Products

1. Password control

Password control is to prevent account passwords from being stolen by Trojans or viruses. Multiple encryption of key user information can effectively ensure the security of account passwords. Yiwu Pay has dual protection of login password and payment password.

2. Real-name authentication

To ensure the security of user's account funds and transactions, please conduct real-name authentication after registration. Corporate members who have not passed the real-name authentication cannot transfer or withdraw money. During the real-name authentication process, you need to provide real information about the company and legal person, enter a Yiwu Pay payment amount, authenticate the bank card, and the real-name authentication is successful after the system background review is passed.

3. Digital Certificate

Digital certificates will control the user's withdrawal, important information modification and other operations on a fixed computer. Even if the account password is stolen, account fund operations cannot be performed without a digital certificate. Using Yiwu Pay's digital certificate, users can increase the corresponding amount when using Yiwu Pay for transfers, withdrawals and other functions.

4. Quick Shield

Quick Shield is a security product launched by Yiwu Pay to better protect the security of users' account funds and prevent user accounts and funds from being stolen.

5. Mobile phone verification code

Yiwu Pay provides a mobile phone verification service. When paying or modifying key information of a Yiwu Pay account, you will need to add a mobile phone SMS verification step to improve the security of your account and transactions.

Security Policy

1. Transaction risk security control

Yiwu Pay has a complete security warning and incident response system process to ensure that your transactions are smooth, safe and fast. We use risk monitoring systems, anti-fraud data analysis, modeling and other prevention and control measures to monitor user accounts and transaction anomalies in real time 24 hours a day, 7 days a week. Once an abnormality is found, the user will be notified in a timely manner. At the same time, in response to the phenomenon that some illegal merchants have used payment platforms to engage in illegal and criminal activities such as "pornography, gambling and drugs" in recent years, the risk control department implements strict merchant access standards, and establishes a complete anti-phishing security system and real-time anti-money laundering monitoring mechanism. At the same time, it cooperates with the public security organs in the investigation and cracking work, protects the interests of legitimate merchants and individual users, and helps maintain a healthy online financial order.

2. Information security storage control

In order to protect the security of users' accounts and the confidentiality of card information, especially key information such as user identity information, bound mobile phone numbers, various authentication passwords, bank card numbers, bank card expiration dates, etc., they are all encrypted and stored in the database using a strong encryption algorithm.

3. Information security transmission control

The Yiwu Pay site uses HTTPS technology to encrypt and transmit private information submitted by users, ensuring the confidentiality, authenticity, and integrity of the sensitive data transmission process.

4. User login control

When users log in to the payment platform, identity verification measures include login password, payment password, verification code, mobile verification code, digital certificate and other methods. According to different user operations, a single method or a combination of methods are used to verify identity information. Especially in the process of modifying key information and withdrawing large amounts of funds, when entering the payment password, a digital certificate is also required for signature verification to achieve strong identity authentication. When users enter password information, password control measures are used to ensure that the password is not maliciously stolen by Trojan programs during the password input process.

Features

1. Quick and convenient

Log in to your account and pay directly using your balance

2. Diverse functions

Supports various transaction operations including transfer, withdrawal, and order payment

3. Safety

Account login is required and payment password and mobile verification code are required for payment