Since the beginning of this year, several non-bank payment institutions have adjusted their senior management teams.

Recently, the Shenzhen Branch of the People’s Bank of China announced an administrative permit, 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 choice by organizations 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 Feitong Payment Service Co., Ltd. to change Ma Junjie to Deputy General Manager and Lin Jiechong to Compliance and Risk Control Officer; also approved Anfubao Payment Co., Ltd. to change Shen Ruixi to Director and Ma Feng to 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 Zhongjin Payment Co., Ltd. to change to Deng Han, with the Technical Leader changing to Zhang Xin.

“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 payment institutions are accelerating their upgrade from “payment tools” to “FinTech service providers,” and this transformation demands higher governance capabilities across the entire management team. Behind these frequent leadership changes are three main drivers: first, the continuous improvement of regulatory rules, which compels payment institutions to strengthen compliance management; second, stricter anti-money laundering and other regulatory requirements, prompting organizations to optimize leadership to enhance risk control; third, rapid technological iteration, driving industry innovation and creating 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 “Measures for the Classification and Rating Management 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.

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

Tian further explained that payment institutions have shifted from a phase of “land grabbing” and rapid expansion to a stage of “refined operation” focused on quality improvement. Leadership adjustments are not just personnel changes but an important beginning of systemic industry transformation. As the industry enters a new stage emphasizing “compliance and innovation,” the demand for talent is also evolving, requiring higher professional standards for senior management.

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

Tian Lihui stated that senior management in payment institutions must possess compliance background, technological expertise, and cross-border vision. Looking ahead, professionalism and stability of leadership will become important indicators of an organization’s overall strength. Payment institutions should take leadership adjustments as an opportunity to optimize governance, strengthen compliance, and foster innovation.