People's Bank of China, Measures for the Administration of Payment Services of Non-financial Institutions

中国人民银行非金融机构支付服务管理办法

July 14, 2010 | BY

clpstaff &clp articles &

PBOC puts online payment services under scrutiny.

Clp Reference: 3600/10.06.14 Promulgated: 2010-06-14 Effective: 2010-09-01

Promulgated: June 14 2010
Effective: September 1 2010
Interpreting authority: People's Bank of China (PBOC)


Applicability: The phrase “payment services of non-financial institutions” refers to some or all of the following fund transfer services provided by non-financial institutions as an intermediary between payers and payees:


(1) online payment;
(2) issue and acceptance of pre-paid cards; and
(3) acceptance of bank cards.


The term “online payment” refers to the transfer of funds between the payer and payee using public or private networks, including currency exchange, Internet payment, mobile payment, telephone payment and digital television payment (Article 2).


Main contents: Applicants that intend to engage in payment services nationwide shall have registered capital of at least Rmb100 million. For those engaging in payment services in provinces (autonomous regions and municipalities directly under the central government), the minimum registered capital shall be Rmb30 million. The minimum registered capital shall be paid-up money capital. The business scope of foreign-invested payment organisations, the qualification requirements of overseas investors and the ratio of capital contribution shall be stipulated by the PBOC separately and submitted to the State Council for approval (Article 9).


Related legislation: PRC People's Bank of China Law (Revised), Dec 27 2003, CLP 2004 No.1 p.4

clp reference:3600/10.06.14promulgated:2010-06-14effective:2010-09-01

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