The "payment suspension" measure is introduced, hidden fees come to an end, and the gray channel of online lending reaches its conclusion.

According to information from multiple institutions, recently many payment institutions in Shanghai have received guidance from regulatory authorities to comprehensively clear out "7+4" type local financial organizations' lending-type payment accounts and stop related fee deduction services. They are required to complete the investigation and rectification by the end of this month. Informed sources indicate that the relevant regulatory trends have been circulating in the industry for nearly half a year, and the requirements now being implemented are stricter than expected. This move targets variants of high-interest loans such as "double funding support," "monthly funding support," and "installment malls." Regulatory authorities are cutting off illegal high-interest gray industries from the funding chain through strengthened penetrating governance, while also solidifying the compliance responsibilities of payment institutions. In the long term, this will reshape the local financial ecosystem and drive the lending and payment industries back to their origins.