Another payment institution has been penalized! The industry reshuffle accelerates, with a cumulative cancellation of over 100 licenses

Wallstreetcn
2026.02.23 14:55

Recently, an administrative penalty information disclosed by the Fujian Branch of the People's Bank of China shows that Fujian Xingyi Payment Technology Co., Ltd. was warned and fined a total of 8.4719 million yuan for illegal activities. Public information indicates that the aforementioned payment institution is a holding subsidiary of the A-share listed company NEWLAND