Implementations of this specification provide blockchain-based payment withholding operations. An example method performed by a blockchain node includes receiving a withholding transaction from a payment system connected to a blockchain, the withholding transaction having been constructed by the payment system in response to detecting a withholding request whose certificate has been stored on the blockchain; in response to receiving the withholding transaction, invoking verification logic declared in a smart contract, to verify whether the withholding information complies with a withholding rule for a target account between the payment system and a withholding requester; and after verifying that the withholding information complies with the withholding rule, generating a verification success event that causes the payment system to perform deduction processing on the target account based on the withholding information.