Multiple Non-Bank Payment Institutions Adjust Executive Teams This Year

Our reporter Li Bing

Recently, the Shenzhen Branch of the People’s Bank of China announced an administrative licensing notice, approving Midea Payment Technology Co., Ltd. Shenzhen’s Deng Jianli to step down as Supervisor, with Li Dan taking over.

Since the beginning of the year, several non-bank payment institutions have adjusted their senior management teams, involving key positions such as Supervisors, Compliance Officers, and Technical Leaders. Experts interviewed generally believe this is a proactive move by institutions to optimize governance, meet compliance requirements, and respond to competition.

Specifically, the Shenzhen Branch of the People’s Bank of China approved Liu Ruo-zhen of Zhongfu Payment Technology Co., Ltd. to serve as Senior Management (Risk Control and Compliance Director). The Shanghai Branch of the People’s Bank of China approved Shanghai Fui Tong Payment Service Co., Ltd. to change Ma Junjie to Deputy General Manager and Lin Jiechong as Compliance and Risk Control Officer; also approved Anfubao Payment Co., Ltd. to change Shen Ruixi to Director and Ma Feng as Technical Leader. The Guangdong Branch of the People’s Bank of China approved Yunhui Payment (Guangzhou) Co., Ltd.'s Technical Leader to change from Qi Cao to Xiao Chaojie; and approved the director of China Gold Payment Co., Ltd. to change to Deng Han, with Zhang Xin as Technical Leader.

“Looking at the core position adjustments within payment institutions this year, compliance and technical personnel have become the main focus of senior management changes,” said Du Juan, Senior Researcher at the Shushang Bank Research Institute. She believes that current payment institutions are accelerating their upgrade from “payment tools” to “fintech service providers,” which demands higher governance capabilities across the entire management team. The frequent changes in senior management are driven by three main factors: first, the continuous improvement of regulatory rules, which compels payment institutions to strengthen compliance; second, stricter anti-money laundering and other regulatory requirements, prompting organizations to optimize leadership to enhance risk control; third, rapid technological iteration, which accelerates business innovation and creates urgent demand for related professional talents.

Overall, the intensive adjustment of senior management in payment institutions is driven by multiple factors, with increased industry compliance requirements being a key force. On February 1, 2026, the “Administrative Measures for Classification and Rating of Non-bank Payment Institutions” officially came into effect, clarifying that the classification and rating of payment institutions include seven modules such as corporate governance, business regulation, reserve fund management, and operational stability. The People’s Bank of China will implement differentiated supervision based on these ratings.

Nankai University Finance Professor Tian Lihui told reporters that the core logic behind senior management adjustments in payment institutions is “compliance meeting standards + business transformation.” On one hand, optimizing leadership helps meet new regulatory requirements and solidify compliance foundations; on the other hand, it helps reserve professional talents for cross-border payments, supply chain finance, and other businesses, supporting high-quality development.

Tian Lihui further explained that payment institutions have shifted from a phase of “land grab” and scale expansion to a stage of “refined operation” focused on quality improvement. Management changes are not just personnel shifts but an important beginning of systemic industry transformation. As the industry enters a new stage of “balancing compliance and innovation,” talent needs are also evolving, demanding higher professional standards for senior executives.

“Executives with experience in compliance, fintech, and cross-border payments are more favored by current payment institutions,” said Du Juan. She listed several types of talents: first, internal control and compliance professionals familiar with regulatory policies and internal controls; second, market expansion talents knowledgeable about innovative payment markets, comprehensive payment solutions, and overseas markets; third, product innovation talents familiar with AI trends, such as AI payments and new hardware payment methods (smart glasses, smart car cabins); and fourth, digital technology talents leveraging AI and other digital tools to reduce costs internally and provide digital solutions externally.

Tian Lihui noted that senior management in payment institutions must possess compliance background, technological acumen, and cross-border vision. Looking ahead, professionalism and stability of senior executives will become important indicators of institutional strength. Payment institutions should use management adjustments as an opportunity to optimize governance, strengthen compliance, and foster innovation and development.

(Edited by Qian Xiaorui)

Keywords: