People's Bank of China, Measures for the Administration of the Online Payment Business of Payment Organisations (Draft for Comments)
中国人民银行支付机构网络支付业务管理办法 (征求意见稿)
April 11, 2014 | BY
clpstaff &clp articles &Issued: March 19 2014 Main contents: Pursuant to the Draft, a payment organisation may not provide online payment services for a transaction…
Issued: March 19 2014
Main contents: Pursuant to the Draft, a payment organisation may not provide online payment services for a transaction between a payee and a physical merchant. A single consumption transaction amount from the payment account of an individual may not exceed Rmb5,000, and the monthly aggregate consumption transaction amounts from all of the payment accounts of an individual customer may not exceed Rmb10,000.
Issued: March 19 2014
Main contents: Pursuant to the Draft, a payment organisation may not provide online payment services for a transaction between a payee and a physical merchant. A single consumption transaction amount from the payment account of an individual may not exceed Rmb5,000, and the monthly aggregate consumption transaction amounts from all of the payment accounts of an individual customer may not exceed Rmb10,000.
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