Four-Party Payment
Fourth-party payment is relative to third parties, as an extension of third-party payment platform services. Third-party payment is between banks and merchants, while fourth-party payment is between third-party payment and merchants, and there is no restriction on payment licenses.
Fourth-party payment integrates various third-party payment platforms, cooperative banks, cooperative telecom operators, and other service provider interfaces, that is, it combines the advantages of various third-party payments and multiple payment channels, and can be customized according to the needs of merchants, forming complementary advantages of payment channel resources, meeting the needs of merchants, and providing payment solutions suitable for merchants.
Generally speaking, fourth-party payment is a payment service integrator with unparalleled flexibility, convenience and complementary payment services. Moreover, fourth-party payment has the advantage of neutrality, which can reconcile the malicious competition of payment institutions to a certain extent and ensure the healthy development of the payment industry.