Administrative Measures For Payment Services Of Non-Financial Institutions

general provisions

Article 1 in order to promote the healthy development of the payment service market, regulate the behavior of non-financial institutions' payment services, prevent payment risks and protect the legitimate rights and interests of the parties concerned, these measures are formulated in accordance with the laws and regulations of the people's Bank of China (People's Republic of China).

The second term "non financial institution payment services" as mentioned in these Measures refers to non-financial institutions providing intermediaries as part of the following part or all of the monetary fund pfer services between the recipients.

(1) network payment;

(two) issuance and acceptance of prepaid cards;

(three) bank card collection;

(four) other payment services determined by the PBC.

The term "network payment" as mentioned in these Measures refers to the pfer of money funds between the receipts and disbursements by means of a public network or a private network, including currency exchange, Internet payment, mobile phone payment, fixed telephone payment, and digital TV payment.

The prepaid card referred to in these Measures refers to the prepaid value that is issued for the purpose of profit and purchases goods or services outside the issuing agency, including prepaid cards issued in cards, passwords, etc.

The term "bank card collection" as mentioned in these Measures refers to the act of collecting money funds by special merchants of bank cards through POS terminals.

Third non-financial institutions providing payment services shall obtain the payment business license according to the provisions of these measures and become a payment institution.

The payment institutions accept the supervision and management of the people's Bank of China in accordance with the law.

Without the approval of the people's Bank of China, any non-financial institution and individual shall not engage in or disguise the payment business.

The pfer of money between the fourth Payment institutions shall be entrusted to the banking financial institutions for handling, and shall not be handled through payment institutions' mutual deposit of monetary funds or entrusting other payment institutions.

Payment institutions shall not pfer money funds between banking financial institutions except those with special permission.

The fifth Payment institutions shall abide by the principles of safety, efficiency, integrity and fair competition, and shall not damage the interests of the state, the public and the legitimate rights and interests of the clients.

The sixth Payment institutions shall abide by the relevant provisions of anti money laundering and fulfill their obligations against money laundering.

The second chapter is application and permission.

Seventh the people's Bank of China is responsible for the issuance and management of the payment business license.

The application for payment of business license shall be submitted to the people's Bank of China for approval after being examined by the branch of the people's Bank of China.

The branches of the people's Bank of China, as referred to in these measures, refer to the branches of the sub provincial cities of the people's Bank of China.

The applicant of the eighth payment business license shall meet the following requirements:

(1) a limited liability company or Limited by Share Ltd established within the territory of the People's Republic of China and a legal person of a non-financial institution.

(two) there is a minimum amount of registered capital that meets the requirements of the present measures.

(three) there are investors who conform to the provisions of these measures;

(four) there are more than 5 senior managers familiar with the payment business.

(five) compliance with the requirements of anti money laundering measures;

(six) having payment facilities that meet the requirements;

(seven) a sound organizational structure, internal control system and risk management measures;

(eight) having the business premises and safety guarantee measures that meet the requirements;

(nine) the applicant and his senior management have not been punished in the past 3 years for the purpose of using the payment business to carry out illegal activities or to pay for illegal activities.

Article ninth where the applicant intends to engage in the payment business nationwide, the minimum registered capital shall be RMB 100 million yuan, and the minimum registered capital for the payment business within the province (autonomous region or municipality directly under the central government) shall be RMB 30 million yuan.

The minimum amount of registered capital is paid in monetary capital.

The measures mentioned in the present measures include payment of business across the country, including the establishment of branches by the applicant across provinces (autonomous regions and municipalities directly under the central government), or the payment of business by customers across provinces (autonomous regions and municipalities directly under the central government).

The people's Bank of China adjusts the minimum registered capital of applicants according to relevant state laws, regulations and policies.

The business scope of foreign investment Payment institutions, the qualifications of overseas investors and the proportion of capital contributions shall be separately stipulated by the people's Bank of China and submitted to the State Council for approval.

The tenth principal contributors of the applicant shall meet the following requirements:

(1) a limited liability company or Limited by Share Ltd established according to law;

(two) as of the date of application, it continuously provides information processing support services for financial institutions for more than 2 years, or continuously provides information processing support services for e-commerce activities for more than 2 years.

(three) as of the date of application, it has been profitable for more than 2 years.

(four) in the past 3 years, it has not been punished for using the payment business to carry out illegal activities or to pay for illegal activities.

The main contributors referred to in these measures include the investor who owns the actual control of the applicant and the investor who holds more than 10% of the applicant's equity.

Article eleventh the applicant shall submit the following documents and information to the branch of the people's Bank of China.

(1) a written application shall specify the applicant's name, domicile, registered capital, organization establishment, and application for payment of business.

(two) photocopy of the company's business license (duplicate);

(three) articles of Association;

(four) capital verification certificate;

(five) financial and accounting reports audited by accounting firms;

(six) payment feasibility study report;

(seven) materials for acceptance of anti money laundering measures;

(eight) technical safety inspection and certification certificate;

(nine) senior managers' resume materials;

(ten) there is no evidence of criminal record of the applicant and his senior management.

(eleven) related materials of major investors;

(twelve) declaration of authenticity of application information.

The twelfth applicant shall, after receiving the notice of acceptance, announce the following items according to the regulations:

(1) the applicant's registered capital and ownership structure;

(two) the list, shareholding ratio and financial status of the main contributors;

(three) the payment business to be applied;

(four) the place of business of the applicant;

(five) payment of technical and safety certification for business facilities.

The thirteenth branches of the people's Bank of China shall accept all applications that meet the requirements according to law, and submit the preliminary examination opinions and application materials to the people's Bank of China.

The people's Bank of China approves and approves the payment business license according to law, and makes a public announcement.

The payment business license shall be valid for 5 years from the date of issuance.

If the payment institution intends to continue to engage in payment business after the expiration of the payment business license, it shall apply to the branch office of the people's Bank of China for renewal application within 6 months before the expiry date.

The renewal period of the people's Bank of China is valid for 5 years.

The fourteenth Payment institutions shall change the following items to the company registration authority before applying for registration of change.

(1) changing the company's name, registered capital or organizational form;

(two) change the main investor;

(three) merger or separation;

(four) adjust business types or change business coverage.

If the fifteenth Payment institutions apply for termination of payment business, they shall submit the following documents and information to the branches of the people's Bank of China.

(1) a written application signed by the company's legal representative, indicating the name of the company, the development of the payment business, and the reasons for the termination of the payment business and the reasons for termination.

(two) photocopy of the company's business license (duplicate);

(three) photocopy of the payment business license;

(four)

(five) payment of business information processing plan.

Upon termination, the payment institution shall terminate its work in accordance with the approval of the people's Bank of China and return the payment business license.

The sixteenth chapter applies to the implementation measures of the people's Bank of China's administrative license (No. third of the people's Bank of China [2004]].

The third chapter is supervision and management.

The seventeenth Payment institutions shall engage in business activities in accordance with the business scope approved by the payment business license, shall not engage in business beyond the scope of approval, and shall not outsource business.

The payment institution shall not pfer, lease or lend the "payment business license".

The eighteenth Payment institutions shall, in accordance with the requirements of prudent management, formulate payment business measures and safeguard measures for clients' rights and interests, establish and improve the risk management and internal control system, and report to the branches of the people's Bank of China in the locality for the record.

The nineteenth Payment institutions shall determine the charging items and charging standards for the payment business, and report to the branch offices of the people's Bank of China where they are located for the record.

Payment institutions shall disclose publicly the charging items and charging standards of their payment businesses.

The twentieth Payment institutions shall submit the payment statistics and financial and accounting reports to the local people's Bank branches in accordance with the regulations.

The twenty-first Payment institutions shall formulate a payment service agreement to clarify their rights and obligations with customers, the principles of dispute settlement, and liabilities for breach of contract.

The payment institution shall publicly disclose the standard terms of the payment service agreement and report it to the branch of the people's Bank of China where it is located for the record.

If the twenty-second branches of a payment institution are engaged in the payment business, the payment institutions and their branches shall be filed separately with the branches of the people's Bank of China.

The termination of payment by the branch of the payment institution shall be handled in accordance with the preceding paragraph.

The twenty-third payment agencies can only make invoices to customers when they receive payment from customers, and do not invoice them according to the amount of payment they receive.

The twenty-fourth payment institution's customer payment is not the property of the payment institution.

Payment agencies can only pfer payment according to the payment instructions initiated by customers.

The payment agencies are prohibited from misappropriating their customers' deposits in any form.

The twenty-fifth Payment institutions shall record the following items in the customer initiated payment instructions:

(1) the name of the drawee;

(two) the amount determined;

(three) the name of the payee;

(four) the name of the opening bank of the drawee or the name of the payment institution;

(five) the name of the depositary bank or the name of the payment institution;

(six) the date of initiation of the payment order.

If a client pays through a bank settlement account, the payment institution shall also record the corresponding bank settlement account.

If a client pays through a non bank settlement account, the payment institution shall also record the name and number of the customer's valid identity document.

If the twenty-sixth Payment institutions accept the customer's payment, they should deposit the deposit in the special deposit account of the commercial bank.

Unless otherwise stipulated by the people's Bank of China.

The payment institution can only choose a commercial bank as a deposit reserve bank, and a branch of the commercial bank can only open a deposit account.

The payment institution shall sign a payment agreement with the legal person organization or authorized branch of the commercial bank to clarify the rights, obligations and responsibilities of both parties.

The payment institution shall send information to the branch of the people's Bank of China where the deposit is deposited and the special deposit account.

The twenty-seventh branches of a payment institution shall not open accounts for special deposit in their own name, and only deposit the accepted funds in the deposit reserve account opened by the payment institution.

Where the twenty-eighth Payment institutions adjust the positions of the different deposit reserve accounts, the legal institutions of the reserve depository bank shall review the balance of the deposit reserve accounts that the payment institution intends to adjust, and notify the payment institutions and the relevant deposit reserve banks of the reconsideration opinions.

The payment institution shall take the reconsideration opinions issued by the legal entity of the depository bank to handle the position pfer of the special deposit account.

The twenty-ninth deposit reserve banks shall supervise the use of the deposit paid by customers who are depositing in this institution, and, in accordance with the regulations, submit to the branch offices of the people's Bank of China where the depository bank is located and the legal entities of the depositary bank of gold depository, etc., to submit the information on the deposit or usage of the customer's reserve funds.

Yes

The ratio of paid in money capital to the daily average balance of the thirtieth Payment institutions shall not be less than 10%.

The average daily balance of customer reserves referred to in these Measures refers to the average value of the total amount of customer payment made by the legal person institution of the depository bank of Hong Kong according to the amount paid by the institution in the last 90 days.

The thirty-first Payment institutions shall check the valid identity documents or other valid identity documents of the customers according to the provisions, and register the basic information of the customers' identity.

The payment institution should be aware or should know that the customer should make use of his payment business to carry out illegal and criminal activities.

The thirty-second Payment institutions shall have the necessary technical means to ensure the integrity, consistency and non repudiation of the payment instructions, to pay for the timeliness, accuracy of the business processing and the safety of the payment business, to have the ability of handling disaster recovery and emergency handling, and to ensure the continuity of payment business.

The thirty-third Payment institutions shall keep their customers' business secrets according to law and shall not disclose them to the outside world.

Unless otherwise stipulated by laws and regulations.

The thirty-fourth Payment institutions shall properly keep the basic information of their clients' identity, payment of business information, accounting files, etc. according to regulations.

The thirty-fifth Payment institutions shall accept regular or irregular on-site inspection and off-site inspection by the people's Bank of China and its branches, provide relevant information truthfully, refrain from refusing, obstructing, evading inspection, and not falsely report, hide or destroy relevant evidence materials.

Article thirty-sixth the people's Bank of China and its branches shall conduct regular or irregular on-site inspections and off-site inspections on the corporate governance, business activities, internal control, risk situation and anti money laundering work of the payment institutions in accordance with relevant laws, administrative regulations and the relevant provisions of the people's Bank of China.

The people's Bank of China and its branches shall conduct on-site inspection of Payment institutions according to law. The provisions of the people's Bank of China's law enforcement inspection procedures (promulgated by the people's Bank of China order [2010] first) shall apply.

Article thirty-seventh the people's Bank of China and its branches can take the following measures to conduct on-site inspection of Payment institutions:

(1) asking the staff of the payment organization to explain and explain the inspection items.

(two) to search and duplicate documents and materials related to the inspection items and seal up the documents and materials that may be pferred, hidden or damaged.

(three) check the special deposit accounts and related accounts of the payment institutions.

(four) check the payment of business facilities and related facilities.

Thirty-eighth of the following situations, the people's Bank of China and its branches have the right to order them to stop paying part or all of their business.

(1) accumulated losses exceed 50% of the actually paid currency capital;

(two) there is a major business risk;

(three) there are serious violations of laws and regulations.

Where the thirty-ninth Payment institutions terminate because they are dissolved or revoked or declared bankrupt in accordance with the law, the liquidation matters shall be handled in accordance with the relevant state laws.

The fourth chapter

Article fortieth the staff of the people's Bank of China and its branches shall be given disciplinary sanction in accordance with the law in any of the following circumstances; if a crime is constituted, the criminal responsibility shall be investigated according to law.

(1) to examine and approve the application, alteration and termination of the payment business license in violation of the relevant provisions;

(two) inspection of Payment institutions in violation of regulations;

(three) divulging state secrets or business secrets that have been known;

(four) other acts of abuse of authority and dereliction of duty.

Forty-first of the following situations, the people's Bank of China and its branches shall order them to make corrections within a time limit, and give a warning or a fine of more than 10 thousand yuan or less than 30 thousand yuan. If the circumstances are serious, the people's Bank of China shall order it to suspend or terminate the customer's reserve deposit management business:

(1) failing to submit the information on the deposit or usage of the customer's reserve funds according to the regulations;

(two) failure to review the behavior of the payment institutions to adjust the positions of the special deposit accounts of the payment institutions according to the regulations;

(three) no application or instruction for payment by the payment institution against the use of customer reserve funds is rejected.

In the case of forty-second Payment institutions, the branches of the people's Bank of China shall be ordered to make corrections within a time limit, and a warning or a fine of more than 10 thousand yuan or 30 thousand yuan shall be imposed.

(1) failing to establish the relevant system or risk management measures according to the regulations;

(two) failing to go through the relevant filing procedures according to the regulations;

(three) failing to disclose relevant matters in accordance with regulations;

(four) failing to submit or keep relevant information according to the regulations;

(five) failing to handle relevant changes in accordance with the regulations;

(six) failing to issue invoices to customers in accordance with regulations;

(seven) keeping commercial secrets of customers without stipulations.

In the case of forty-third Payment institutions, the branches of the people's Bank of China shall be ordered to make corrections within a time limit and impose a fine of 30 thousand yuan; if the circumstances are serious,

(1) pfer, lease or lend the "payment business license";

(two) outsourcing beyond the approved business scope or business;

(three) failing to deposit or use customer reserve funds according to regulations;

(four) failure to comply with the provisions on the management of the ratio of paid in capital to customer payment;

(five) to suspend or terminate the business without justifiable reasons;

(six) refuse or obstruct the relevant inspection and supervision;

(seven) other illegal behaviors that endanger the payment institutions' sound operation, damage their legitimate rights and interests, or endanger the payment service market.

If the forty-fourth Payment institutions fail to fulfill their obligations against money laundering, the people's Bank of China and its branches shall be punished according to the relevant laws and regulations of the state on money laundering, and if the circumstances are serious, the people's Bank of China canceling its payment business license.

If the forty-fifth Payment institutions continue to engage in the payment business beyond the validity period of the payment business license, the people's Bank of China and its branches shall order it to terminate the payment of business; if the alleged crime is committed, it shall be pferred to the public security organ for investigation and investigation according to law; if a crime is constituted, criminal liability shall be pursued according to law.

The forty-sixth is to apply for the payment business license by means of cheating and other unfair means. However, if the applicant fails to obtain the approval, the applicant and the investor holding more than 5% of the shares shall not apply for or participate in the application for payment of the business license within 3 years.

If a business license is applied for by means of fraud or other improper means, and has been approved, the people's Bank of China and its branches shall order it to terminate the payment of business and write off its payment business license; if it is suspected of committing a crime, it shall be pferred to the public security organ for investigation and investigation according to law; if a crime is constituted, it shall be investigated for criminal responsibility according to law; the applicant and the investor holding more than 5% of its equity shall not apply for or participate in the application of the payment business license again.

Article forty-seventh if any non-financial institution or individual is engaged in or disguised to engage in payment business without the approval of the people's Bank of China, the people's Bank of China and its branches shall order him to terminate the payment of the business; if he is suspected of committing a crime, he shall be pferred to the public security organ for investigation and investigation according to law; if he constitutes a crime, he shall be investigated for criminal responsibility according to law.

The fifth chapter

The forty-eighth non financial institutions that have already engaged in payment business before the implementation of these Measures shall apply for the payment business license within 1 years from the date of implementation of these measures.

Those who fail to obtain the overdue payment shall not continue to engage in the payment business.

The forty-ninth way is to be explained by the people's Bank of China.

The fiftieth measures shall come into force on September 1, 2010.