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Reapal Payment and China Zheshang Bank Jointly Launch P2P Fund Depository Service

On the 9th day of October, China Zheshang Bank held a P2P Fund Depository Service Promotion Conference in Hangzhou, drawing attentions of the industry. Over 400 representatives from hundreds of P2P platforms and P2P system developers attended the conference and there is no empty seat at the scene. Chairman Shen Renkang, President Liu Xiaochun and Assistant of President of Headquarters from China Zheshang Bank delivered speeches. As the third party payment company, Reapal Payment has entered into a joint depository service strategy cooperation agreement with the bank. Rongdu Tech, Dilong Tech, TOMCAT, EIMS and some other P2P developers also entered into strategic cooperation with China Zheshang Bank at the scene. 

With the fast development of P2P industry and the launch of the joint guiding opinions of the ten major ministries and commissions, the third party payment companies and banks will work together to provide joint depository service for P2P shops. This mode has become a trend for future internet finance development. By taking inherent advantages, Reapal Payment has developed a Rongtuofu P2P technical service system by long-term research. So far it has entered into cooperation with over 100 P2P shops; this time the integration of Rongtuofu System and Bank System can not only provide the safest and easiest technical service for P2P shops, but also offer bank depository service for these shops; it conforms to the supervisory requirements while enhancing the safety of the funds on the platforms. The industrial experts believe, with the launch of the guiding opinions on the internet fiancé and the new cooperation between the third party payment companies and banks, a brand new future will definitely coming in the internet finance industry. 

According to Assistant President Wu Jianwei, China Zheshang Bank’s this launch is more comprehensive with more extensive modes.  Joint bank depository business will be put on the priority as one of the key cooperation modes for China Zheshang Bank and the service object is also extended from depository service for P2P platforms to all-round cooperation with Internet finance companies by taking the third party payment company as the core. 

“Joint depository” refers to a join fund depository mode by access of Reapal Payment System to the banking system while setting subaccounts for investor and borrowers to record the transactions of each investor or borrower like charging, investment, cash withdrawal and fund transfer. This mode is applicable to the supervision jointly by the third party payment companies and banks on the funds for P2P platform transaction fund, so the innovation of this cooperation mode will conform to the requirements of supervisory authorities! 

At this promotion meeting, Reapal Payment has entered into strategic cooperation agreement with China Zheshang Bank so as to not only greatly reduce the possibility of risk transaction, but also bring the concept of the bank fund management to P2P field. This initiation laid a firm foundation for the long-term development of Internet finance industry. According to incomplete statistics, before then Reapal Payment had entered into strategic cooperation with a number of banks like Minsheng Bank and Guiyang Bank!

With the in-depth cooperation between Reapal Payment and banking, it will provide more internet finance enterprises with more comprehensive fund depository service, which also means, Reapal Payment will become a brilliant star in the internet finance field!