Administrative Measures for the Payment Services of Non-financial Institutions
Administrative Measures for the Payment Services of Non-financial Institutions
Administrative Measures for the Payment Services of Non-financial Institutions
Order of the People's Bank of China [2010] No. 2
June 14, 2010
The Administrative Measures for the Payment Services of Non-financial Institutions, which were formulated by the People's Bank of China in accordance with the Law of the People's Republic of China on the People's Bank of China and other laws and regulations and adopted at the 7th president executive meeting on May 19, 2010, are hereby promulgated, and shall come into effect as of September 1, 2010.
President: Zhou Xiaochuan
Administrative Measures for the Payment Services of Non-financial Institutions
Chapter I General Provisions
Article 1 With a view to promoting the healthy development of the payment service market, regulating the payment service of non-financial institutions, guarding against payment risks, and protecting the lawful rights and interests of parties concerned, these Measures are formulated in accordance with Law of the People's Republic of China on the People's Bank of China and other laws and regulations.
Article 2 The payment service of non-financial institutions as mentioned in these Measures refers to that the non-financial institutions provide all or part of the following transfer service of monetary capital as an intermediary between payees and payers:
1. Online payment;
2. Issuance and acceptance of prepaid card;
3. Bank card acceptance; and
4. Other payment services as specified by the People's Bank of China.
The online payment as mentioned in these Measures refers to the act of transferring monetary capital between payers and payees through public network and private network, including money transfer, payment via the Internet, payment by mobile phone, payment by fixed-line telephone, digital television payment, etc.
The prepaid card as mentioned in these Measures refers to the advanced value issued for the purpose of making profit and are used to purchase commodities or services outside the issuer, including prepaid cards issued in such forms as card and password by adopting magnetic stripe, chips and other technologies.
The bank card acceptance as mentioned in these Measures refers to the act of collecting monetary capital for specially engaged commercial business of bank cards through terminals of point-of-sells (POS).
Article 3 To provide payment services, a non-financial institution shall obtain Payment Business License in light of these Measures and qualifies as a paying institution.
A paying institution shall be subject to the supervision and management by the People's Bank of China in accordance with law.
No non-financial institution or individual may engage in payment business without the approval of the People's Bank of China whether explicitly or otherwise.
Article 4 Banking financial institutions shall be entrusted for monetary capital transfer between paying institutions, and such monetary capital transfer may not be handled by mutually depositing monetary capital between paying institutions or entrusting other paying institutions or in any other forms.
Paying institutions may not handle the monetary capital transfer between banking financial institutions, except those with special license.
Article 5 Paying institutions shall follow the principles of safety, efficiency, good faith and fair competition, and may not impair State interests, public interests and lawful rights and interests of clients.
Article 6 Paying institutions shall abide by relevant provisions on anti-money-laundering and fulfill anti-money-laundering obligations.
Chapter II Application and Licensing
Article 7 The People's Bank of China shall be responsible for the issuance and administration of the Payment Business License.
Whoever applies for the Payment Business License shall report to the People's Bank of China for approval after being examined by the branch of the People's Bank of China in charge of the region where the applicant is located.
A branch of the People's Bank of China as mentioned in these Measures refers to the branch of the People's Bank of China above center branch in sub-provincial cities.
Article 8 The applicant for Payment Business License shall satisfy the following conditions:
1. Being a limited liability company or stock limited company established in the People's Republic of China in accordance with law and a non-financial institution with legal person status;
2. Having the minimum registered capital provided in these Measures;
3. Having capital contributors provided in theses Measures;
4. Having more than 5 senior management personnel familiar with payment business;
5. Having anti-money-laundering measures that meet requirements;
6. Having payment business facilities that meet the requirements;
7. Having a sound organizational structure, internal control system and risk management measures;
8. Having business offices and safety precautions; and
9. The applicant and senior management personnel thereof is free of punishment for committing any illegal criminal activities by abusing payment business or handling payment business for illegal criminal activities for the latest 3 years.
Article 9 Where an applicant intends to engage in payment business on a national scale, its minimum registered capital shall be RMB 100,000,000; where it intends to engage in payment business within a province (autonomous region, municipality directly under the Central Government), its minimum registered capital shall be RMB 30,000,000. The minimum registered capital shall be paid-in monetary capital.
Engagement in business on a national scale as mentioned in these Measures includes the circumstances where the applicant establishes branches across provinces (autonomous regions and municipalities directly under the Central Government) or where a paying institution provide client with payment business service across provinces (autonomous regions and municipalities directly under the Central Government).
The People's Bank of China may adjust the minimum registered capital of the applicant in accordance with relevant laws and regulations and policies of the State.
The business scope of foreign-invested paying institutions, the qualifications and contribution ratio of overseas capital contributors shall be separately stipulated by the People's Bank of China and reported to the State Council for approval.
Article 10 The major capital contributors of an applicant shall satisfy the following conditions:
1.
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