Alipay and WeChat payment codes are restricted. What will happen to individual merchants?

Today, a piece of news swept the Internet, saying that starting from March next year, Alipay and WeChat payment codes will not be used by individual business operators. This will have a huge impact on the lives of all of us.

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With the development of the Internet, various third-party payment platforms have emerged one after another. The most common tools for people are WeChat and Alipay. Almost all businesses of all sizes will put these two QR codes at their business locations, which can be said to be convenient for themselves and consumers.

However, if these two payment codes cannot be used by merchants, it will not only affect WeChat and Alipay, but also the banking industry. If the payment codes cannot be used, it is expected that the number of bank card openings will surge next year, and the bank's business will also be improved. Experts said that the purpose of this move is to prevent those who use payment codes to evade taxes. Indeed, when I went to a hotel before, the money to make up the difference did not go through the booking platform, but went directly into a manager's personal WeChat wallet. There is some reason for this. However, more people believe that this move is to promote the development of the banking industry.