"Lawyer: Why U Card Business Looks Simple but Is Full of Pitfalls" (Author Shao Jiadian)


U Card is not just a simple "card" product, but a comprehensive system that includes the entire payment chain, card issuance cooperation, asset inflows and outflows, anti-money laundering, user agreements, and risk isolation.
The core lies in the regulatory classification of funds and coin flows, continuous KYC/AML, and clear boundaries of responsibility and emergency mechanisms.
A truly sustainable solution must clearly define the regions, the flow of funds and assets, partner relationships, third-party service disclosures, and how user rights are handled when partners cease services, to prevent it from just being a front-end shell.
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