Third-party payment withholding means that third-party payment companies with withholding qualifications (such as Tenpay, Alipay, Huifu, Yibao and other companies with Internet payment licenses) provide companies that have signed an entrusted withholding agreement with direct payment from banks. Services for deducting or collecting payments from your card.
Let’s take an example of a function that everyone uses every day. If you buy a house and apply for a mortgage. At this time, on a certain day of each month, your mortgage bank will transfer a mortgage loan from your bank card. This function is called withholding.
Practical application scenarios:
1. Sellers in the second-hand car market need to provide second-hand car installment services to buyers who purchase second-hand cars, with a down payment of 30% and the remaining balance divided into 24 installments over two years. A certain amount will be deducted from the buyer's designated bank card every month.
2. A small loan company issues a loan to an individual, and the individual repays it in installments: 6 installments, 12 installments, 24 installments, etc. A certain repayment amount is deducted from the bank card designated by the user every month, and the individual repays one day in advance. Or repay the money to the designated bank card on the same day, and the third-party payment company will transfer it to the small loan company through withholding business.
3. Real-time targeted deductions are mainly used in certain real-time special fields. In legal scenarios, the specified amount can be deducted from the bank card account in real time by providing the card number and related procedures.
4. Monthly membership fee withholding. For example, if you are an iQiyi member, bind your bank card or WeChat or Alipay account, and it will be deducted every month. You only need one-time consent from the user, and it will be automatically deducted every month thereafter.
Of course, many times, we inadvertently sign an agreement, and the background automatically deducts money from personal credit cards every month, and because the amount is small, there may not be a text message notification. If you find out at this time that if it is a credit card, you can call to cancel it. If it is WeChat or Alipay, you can cancel the associated deduction business from the deduction management in your personal WeChat Alipay.