Notice On Publicly Soliciting Opinions On Implementing Rules For The Management Of Non Financial Institutions' Payment Services

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Related laws and regulations: Notice of public consultation on the implementation rules of the management measures for non-financial institutions' payment services

In line with the implementation of the "non-financial institutions' payment service management measures" ([2010] second of the people's Bank of China), the people's Bank of China drafted the implementation rules for the management of non-financial institutions' payment services (Draft).

The Internet is now open to all sectors of the public for comments.

Please send your opinions and suggestions to the payment and Settlement Department of the people's Bank of China by e-mail or fax before September 27, 2010.

Contact: mning@pbc.gov.cn

Fax: 010-66016732

Annex: 1. rules for the implementation of management measures for payment services of non financial institutions (Draft)

2. draft regulations for the implementation of management measures for non-financial institutions' payment services (Draft)

Annex 1

Implementation details of management measures for non-financial institutions' payment services

(Draft) {page_break}

Article 1. These rules are formulated in accordance with the "regulations governing the payment services of non-financial institutions" (hereinafter referred to as the "measures") and relevant laws and regulations.

The "payment institution" as mentioned in the second way refers to the non financial institution that has obtained the payment business license according to the provisions of the measures.

Payment institutions shall not carry out business activities in the name of financial institutions.

The prepaid cards mentioned in the third way do not include:

(1) only the prepaid cards for issuing social security payments.

(two) limited to prepaid cards on public pport.

(three) the prepaid card is only limited to telephone charges and other communication costs.

In addition to the provisions of the preceding paragraph, the prepaid card issuer is not the same legal person as the prepaid card merchant.

If fourth Payment institutions issue prepaid cards, they shall provide the prepaid card's acceptance service.

The acceptance of prepaid cards in the "measures" includes collecting prepaid value for the prepaid card merchants and collecting money from the prepaid card merchants on the basis of the prepaid value they receive.

The second point of the fifth way, POS, refers to the sales terminals that exist in the form of physical objects.

The seventh branches of the sixth "measures" refer to the sub branches of the sub provincial cities of the people's Bank of China, including the Shanghai headquarters of the people's Bank of China, branches and business management departments, the sub branches of the provincial capital cities and the sub provincial cities.

In the eighth item (four) of the seventh way, 5 or more senior managers familiar with the payment business refer to at least 5 of the senior managerial personnel of the applicant who have the following requirements:

(1) having a bachelor's degree or above, and engaged in payment and settlement business or financial information processing business for more than 5 years;

(two) senior technical titles of accounting, economics, finance, computer or electronic communication.

The senior managerial personnel mentioned in the preceding paragraph include directors, general managers, deputy general managers, financial responsible persons, compliance directors, risk management heads, market promotion directors, systems operation and maintenance directors, branch directors, or those who actually perform the above duties.

The eighth anti money laundering measures mentioned in item eighth (five) of the measures include the basic policy of anti money laundering, the establishment of anti money laundering posts, and the suspicious paction monitoring system.

The ninth payment methods mentioned in item eighth (six) of the measures include payment business processing system, network communication system and special physical location for the above system.

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The payment business processing system shall be owned and operated by the applicant, and shall conform to the business rules, technical standards and safety requirements stipulated by the people's Bank of China.

The tenth "measures" eighth (seven) of the organization, including:

(1) shareholders' meeting or shareholders' meeting, board of directors, board of supervisors or supervisor;

(two) departments with compliance management, risk management, market promotion, system operation and maintenance and fund management functions.

The eleventh is the information processing support service referred to in item tenth (two) of the measures, including information processing services and support services for information processing.

The twelfth contributor to the tenth control of the "method" is the investor who has the actual control rights of the applicant. It refers only to the investor who holds more than 50% of the shareholding of the applicant directly or indirectly, and the less than 50% of the shareholding directly and indirectly accumulatively held. However, the investor's right to vote has a significant impact on the resolution of the shareholders' meeting and the general meeting of shareholders.

The thirteenth "measures" Tenth refers to those who hold more than 10% of the applicant's equity, only refers to those who directly hold the applicant's equity of more than 10%, and those who directly or indirectly hold more than 10% of the accumulative applicants.

The eleventh application of Article 1 of the fourteenth article (1) shall specify the specific types of application for payment.

The photocopy of the business license (duplicate) mentioned in item eleventh (two) of the fifteenth way shall be stamped with the official seal of the applicant.

The sixteenth financial accounting report referred to in item eleventh (five) of the measures shall submit the financial and accounting reports in the latest 1 years as of the date of application.

If the applicant has not set up for less than 1 years, he shall submit the financial and accounting reports for the duration of his stay.

The feasibility study report on the payment business mentioned in article eleventh (six) of the seventeenth way shall include the following contents:

(1) analysis of the market prospect of the payment business;

(two) to be engaged in the processing flow of the payment business, including the business contents and related funds pfer from the client's payment business to the completion of the client's entrusted payment business.

(three) technical means to be engaged in payment business;

(four) risk analysis and management measures to be undertaken in the payment business, and each link of the payment business shall be explained separately.

(five) an analysis of the economic benefits of the payment business.

If the applicant intends to apply for different types of payment business, the preceding paragraph shall be provided separately according to the type of payment business.

The acceptance materials for anti money laundering measures mentioned in article eleventh (seven) of the eighteenth way shall include the following contents:

(1) the internal control system documents of anti money laundering, which include the management framework of anti money laundering compliance, customer identification and data preservation measures, suspicious paction reporting measures, paction records preservation measures, anti money laundering auditing and training measures, internal procedures for assisting anti money laundering investigation, and security measures for anti money laundering work;

(two) a description of the duties of anti money laundering posts, including senior managers responsible for anti money laundering, anti money laundering staff and contact ways.

(three) technical specifications for suspicious paction monitoring.

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The nineteenth technical safety certification certificate of item eleventh (eight) of the "measures" refers to the documents and materials that indicate that the business processing system complies with the business norms, technical standards and safety requirements stipulated by the people's Bank of China. It should include the inspection report issued by the inspection machine and the certificate issued by the certification authority.

The inspection bodies and certification bodies mentioned in the preceding paragraph shall be recognized by the China National Accreditation Committee for conformity assessment (CNAS) and meet the requirements of the people's Bank of China on the ability of testing and certification of technical safety.

Failing to carry out technical safety inspection and certification according to the business standards, technical standards and safety requirements stipulated by the people's Bank of China, or the procedures and methods for testing and certification of technical safety, etc., the people's Bank of China and its branches may require the applicant to re test and authenticated.

The twentieth curriculum materials referred to in article eleventh (nine) of the "measures" include the resume of senior management and the relevant certifications of academic qualifications and technical titles.

The applicant's criminal record proof materials mentioned in article eleventh (ten) of the twenty-first way shall be issued by the public security organ of the place where the applicant is registered; the senior manager's no crime proof material shall be issued by the public security organ of the senior management's domicile.

The relevant materials of the twenty-second principal investors referred to in article eleventh (eleven) of the "measures" shall include the following documents and materials:

(1) the applicant's explanatory material on the relationship between the investors;

(two) a copy of the company's business license (duplicate) of the main investor;

(three) the business cooperation certificate issued by the co operative body of the main investor's information processing support service, indicating the contents and time of service, and affixing the official seal of the cooperative institution.

(four) financial accounting reports of major investors in the past 2 years, which are audited by accounting firms;

(five) the main investor has no criminal record evidence in the past 3 years.

Where the principal contributor is a financial institution, it shall also submit a copy of the financial business license (duplicate) and the relevant supporting documents that will be granted to its investment payment institution.

The declaration of authenticity of the application materials mentioned in article eleventh (twelve) of the twenty-third way refers to the written document issued by the applicant to indicate the applicant's corresponding responsibility for the authenticity, accuracy and completeness of the documents and materials submitted.

The declaration of authenticity of the application shall be signed and sealed by the legal representative of the applicant.

The twenty-fourth application documents and data required for eleventh, thirteenth, fourteenth and fifteenth articles of the "method" shall be provided in three copies of paper and electronic documents (data discs).

The twenty-fifth article, as stated in the twelfth provision of the "measures", means that the applicant shall, within 10 days from the date of receiving the notice of acceptance, announce the 3 day in the local newspapers designated by the people's Bank of China and the local newspapers designated by the branches of the people's Bank of China.

The applicant shall submit three original copies of the newspapers to the branches of the people's Bank of China.

The twenty-sixth payment business license is divided into original copy and duplicate copy. The original copy and the duplicate copy have the same legal effect.

The payment institution shall place the payment business license (original) in a prominent place in the business premises.

Where the payment institution has an Internet website, it should also publicize the video information of its payment business license (original) in a prominent position on the homepage of the website.

If the twenty-seventh Payment institutions apply for renewal of the term of validity of the payment business license, they shall submit the following documents and materials:

(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 applying for renewal.

(two) a copy of the company's business license (copy); {page_break}

(three) photocopy of the payment business license (duplicate).

If a payment institution applies for renewal of the term of validity of the payment business license, it shall not apply for altering other matters at the same time.

Twenty-eighth the people's Bank of China conducts a comprehensive review and comprehensive evaluation of the operation of the payment institutions, and decides whether to approve the renewal of the term of validity of the payment business license.

If the people's Bank of China permits the renewal of the term of payment of business license, the payment institution shall return the original license and obtain a new permit.

Where the twenty-ninth payment business license is destroyed or destroyed in the validity period, the payment institution shall make a public announcement in the local newspapers designated by the PBC and the local newspapers designated by the branches of the people's Bank of China, and declare that the original license is invalid.

The declaration shall be announced for 3 consecutive days within 10 days from the date when the payment authority confirms that the license has been lost or destroyed.

The thirtieth Payment institutions shall, within 10 days from the date of the announcement of the loss of the business license and the end of the damage, apply to the branches of the people's Bank of China for reauthorization.

The people's Bank of China has reissued the payment business license to the payment institution after examination.

The thirty-first "payment business license" (copy) is lost or destroyed within the validity period, and shall be dealt with in accordance with the twenty-ninth and thirtieth rules of the detailed rules.

The protection scheme of the clients' legitimate rights and interests mentioned in article fifteenth (four) of the thirty-second way shall include the following contents:

(1) the protection measures for the right to know of the customer, clearly inform the customer of the reason for terminating the payment business, stop accepting the time entrusted by the client to pay the business, and plan to terminate the subsequent arrangement of the payment business.

(two) the protection measures for the right to privacy of customers, the receiving institutions that clarify the basic information of customer identity, the pfer arrangements, the way of destruction and their supervision arrangements.

(three) the protection measures for the right to choose customers, clear options for customers, and more than two customer payment refund schemes.

The scheme of protecting the legitimate rights and interests of clients involves other payment institutions, and should also submit the supporting documents signed by the payment agencies concerned, such as the pfer of basic information of the client's identity, and the refund arrangements for the customer's payment.

The thirty-third way of payment business information processing referred to in item fifteenth (five) of the measures shall clearly specify the receiving institutions and their pfer arrangements, the way of destruction and their supervision arrangements for payment of business information.

Other payment institutions involved should also submit supporting documents such as the pfer of payment agreement to the payment agencies.

The thirty-fourth Payment institutions shall, according to the relevant provisions of laws, regulations and departmental rules, determine the charging items and charging standards of their payment businesses.

If the laws and regulations and departmental rules do not explicitly pay the fees and fees of the business, the payment institution may reasonably determine the charging items and the charging standards of the payment business according to the market principles.

The payment institution shall disclose the charging items and charging standards of its payment business in the prominent place of the business premises.

Where the payment institution has Internet websites, it should also be disclosed in the prominent position of the homepage of the website.

If the thirty-fifth Payment institutions adjust the charging items or charging standards of the payment business, they should take into consideration the factors of market supply and demand, customer's bearing capacity and so on.

Before implementing the new payment business charge or payment standard, the payment institution shall continue to announce 30 days of adjustment in the prominent place of the business place.

Where the payment institution has Internet websites, it should also be publicized in the prominent position on the homepage of the website.

The thirty-sixth Payment institutions shall submit the financial and accounting reports audited by accounting firms to the branches of the people's Bank of China in the last fiscal year within 4 months from the end of each accounting year.

If the thirty-seventh Payment institutions make a loss within any accounting year within the validity period of the payment business license or a cumulative loss within 40% consecutive years, which exceeds 40% of the actually paid currency capital, the financial and accounting reports audited by the accounting firm shall be submitted within the first quarter of the next quarter of the fiscal year.

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The thirty-eighth payment service agreement referred to in article twenty-first of the "measures" includes a paper contract or data message that meets the requirements of laws and regulations and is available for retrieval.

The payment institution shall disclose the format terms and conditions of its payment service agreement in the prominent place of the business premises.

Where the payment institution has Internet websites, it should also be disclosed in the prominent position of the homepage of the website.

The standard terms of payment agreement of the thirty-ninth Payment institutions should follow the principle of fairness and comprehensively and accurately define the rights, obligations and responsibilities between Payment institutions and customers.

The payment institution shall adopt a reasonable way to draw customers' attention to the terms of exemption or limitation of liability in the standard terms of the payment agreement, and is obliged to explain the provision according to the requirements of the customer.

The payment institution should regulate and adjust the relevant contents of the terms and conditions of the payment agreement in time according to the development of the business.

If the payment institution intends to adjust the contents of the terms and conditions of the payment service agreement, it shall inform the customer through the announcement and other 30 days before the adjustment, and shall indicate the contents of the proposed adjustment.

If a customer fails to fulfill his duty of disclosure, the adjusted payment agreement will not be binding upon the client.

When the branch of the payment institution referred to in the twenty-second section of the fortieth article refers to the payment business, it shall submit the following documents and materials:

(1) a written report signed by the company's legal representative;

(two) photocopy of the payment business license (duplicate);

(three) photocopy of the business license of the branch company;

(four) the resume description and relevant supporting materials of the person in charge of the branch.

The above documents and materials shall be provided in two copies of paper documents, and the submission offices of the people's Bank of China shall be submitted by the payment institutions and their branches respectively.

The payment institution may apply for the "payment business license" (duplicate) for the archival branch according to the needs of the business.

When the branch of a payment institution mentioned in the twenty-second paragraph of the forty-first article refers to the termination of payment business, the following documents and materials should be submitted:

(1) a written report signed by the company's legal representative;

(two) photocopy of the payment business license (duplicate);

(three) photocopy of the business license of the branch company;

(four) the protection of the legitimate rights and interests of customers;

(five) other information requested by the people's Bank of China.

The protection scheme for the legal rights and interests of customers referred to in Item (four) of the preceding paragraph shall be handled in accordance with the thirty-second clause of these rules.

The above documents and materials shall be provided in two copies of paper documents, and the submission offices of the people's Bank of China shall be submitted by the payment institutions and their branches respectively.

The branch of the payment institution shall return the copy of the payment business license (duplicate) it holds on record.

The forty-second "customer payment" refers to the money deposited or paid by the client of the payment institution, and the monetary fund collected or paid by the payment agency.

Customer payment includes:

(1) the monetary fund entrusted by the payee or the payer;

(two) the monetary fund entrusted by the payee and the actual payment received by the payment institution; {page_break}

(three) Monetary Fund entrusted by the drawee but not paid by the payment institution;

(four) unpaid prepaid value corresponding to Monetary Fund in prepaid cards.

The forty-third non bank settlement accounts referred to in the twenty-fifth section of the "measures" refer to the various payment business accounts established by the payment institutions to reflect the changes in the customers' Jin Zengjian payments.

A payment institution opens a non bank settlement account for a client, and may not set conditions for the client to use the money fund in his non bank settlement account.

Unless otherwise stipulated by laws and regulations.

If forty-fourth customers pay the business commission with the reserve payment, the payment institution may, however, only open a non bank settlement account for themselves to calculate the payment fee for the payment business.

The payment institution's income from the payment of the service fee from the special deposit account of the reserve fund shall be handled in accordance with the twenty-eighth article of the measures.

When the forty-fifth Payment institutions apply for the establishment of a special deposit account, they should issue a certificate of payment (duplicate) and a deposit reserve agreement (copy), in addition to the supporting documents issued by the depositary bank of Hong Kong for the management of renminbi settlement accounts.

The name of the special deposit account should be added to the name of the payment institution.

The forty-sixth set of the "twenty-sixth way" provisions for the payment of the gold depository agreement should be clear about the liability of the reserve depository bank when the loss is paid.

(1) when the funds in the special deposit account of the reserve fund are lost, the deposit reserve bank may be exempted from liability.

(two) when the funds in the special deposit account of the reserve fund are lost, the reserve depository bank shall bear the first liability and the amount to be paid first.

(three) due to the outstanding items in the deposit management agreement, the Deposit Reserve Bank of the reserve deposit bank shall bear the responsibility of paying the capital in advance.

If the forty-seventh Payment institutions open a non bank settlement account for their clients, they shall ensure that the money of the client reaches the payment deposit account of the payment institution.

Payment institutions shall not advance their clients' monetary funds for their special deposit accounts which have not yet arrived.

If the forty-eighth Payment institutions receive cash from their clients, they shall pay in full the special deposit account in accordance with the following requirements:

(1) the cash received before the end of the public business hours determined by the depository bank should be paid on the same day.

(two) the cash received after the end of the public business hours determined by the depository bank shall be paid on the next working day of the deposit depository bank.

The forty-ninth legal entities of the reserve depository bank may authorize branches to perform the following duties on behalf of:

(1) sign a payment agreement with the payment institution;

(two) to recheck the balance of the deposit reserve account of the payment institution to be adjusted;

(three) review the interest of the payment institution's special deposit account;

(four) to review the situation of the payment institution's pfer from the special deposit account to the payment of business fee income.

(five) supervise the use of the deposit accounts with various reserve funds opened by the payment institutions.

The legal person institution and its authorized branches of the reserve depository bank shall be filed separately with the branches of the people's Bank of China.

The fiftieth legal entities or authorized branches of the reserve depository bank shall report the following information to the local branches of the people's Bank of China by electronic means within 3 working days after each month:

(1) the payment institution adjusts the balance of the deposit account; {page_break}

(two) the interest of the payment institution's special deposit account;

(three) the situation of the payment of commission fees paid by the payment agencies;

(four) the use of special deposit accounts opened by the payment agencies.

The fifty-first day of the thirtieth section of the "method" shall be based on the day when the business processing system determined by the legal entity of the depository bank of the bank shall be paid.

The fifty-second Payment institutions and their reserve depository banks shall report the following information to the local branches of the people's Bank of China by electronic means within 3 working days after each month:

(1) the amount of the special deposit account for each month's payment;

(two) the balance of the daily deposit account for the month end of last month;

(three) the amount of cash in the deposit account for each month.

The fifty-third Payment institutions engaged in online payment shall verify the valid identity documents or other valid identity documents of the clients through the national citizenship information system or the business registration information inquiry system.

The fifty-fourth disaster recovery handling capacity mentioned in article thirty-second of the "measures" refers to that the payment institution should resume business within 24 hours after payment interruption, and at least meet the following requirements:

(1) regulations governing emergency handling and disaster recovery;

(two) have a sound emergency response plan and drill plan;

(three) having the necessary disaster recovery personnel and emergency business places;

(four) having data backup facilities in the same computer room and application backup facilities in the same city.

If the fifty-fifth Payment institutions have stopped the payment business for more than 2 hours due to emergencies, they shall immediately report the relevant reports to the branches of the people's Bank of China and report the causes, effects and remedial measures of the accident in written form within 3 working days.

If a branch of a payment institution appears in such a case, the payment institution and its branch shall report separately to the branches of the people's Bank of China in the preceding paragraph.

The fifty-sixth Payment institutions should take necessary management measures and technical measures to prevent loss, damage and disclosure of basic information and payment information.

Payment institutions shall not provide information on basic information of customers' identity and payment of business information in any form, except as otherwise stipulated by laws and regulations or terminated by the people's Bank of China.

The fifty-seventh depository institutions shall keep the basic information of customer identity and the duration of payment business information for at least 5 years from the end of the business relationship.

Anti money laundering or suspicious pactions or criminal activities under investigation by the judicial department involve basic information and payment information of customer identity, and the relevant investigation work has not yet ended when the minimum retention period stipulated in the preceding paragraph has expired. The payment institution should keep it to the end of the relevant investigation.

The fifty-eighth Payment institutions shall apply the relevant provisions of the "accounting archives management measures" to the custody period of accounting records.

If the fifty-ninth non-financial institutions engaged in the payment of business before the implementation of the "measures" receive payment from customers, they should make sure that they are ready to pay the deposit bank before applying for the payment of business licenses, and that all the customers' deposit payments will be pferred to their special deposit accounts opened in the bank.

In addition to submitting the documents and materials provided for in the eleventh section of the measures, a non-financial institution applying for the payment of business license shall also submit the deposit reserve agreement (duplicate) and the description materials concerning all the deposit accounts paid by the customer.

The sixtieth detailed rules shall be implemented from the date of promulgation.

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Annex 2

Rules for the implementation of management measures for non-financial institutions' payment services

Drafting instructions

In line with the implementation of the "non-financial institutions' payment service management measures" ([2010] second of the people's Bank of China, hereinafter referred to as the "measures"), the people's Bank of China drafted the implementation rules for the management of non-financial institutions' payment services (Draft), hereinafter referred to as the "implementation rules".

The following are the following:

I. Principles for the implementation of the detailed rules for implementation

(1) pay attention to the market access of Payment institutions for administrative examination and approval.

The measures are aimed at establishing a unified and standardized market access order for non financial institutions, and emphasizing the implementation of the business license system for payment services of non-financial institutions.

The implementing rules focus on the qualification conditions that the applicant should possess, the conditions for submitting the application materials, the procedures for application and approval procedures, etc., to refine and explain, so as to avoid unnecessary irritated procedures in the administrative licensing procedure due to differences in understanding.

(two) emphasis is placed on the most basic rules of Payment institutions engaged in payment business.

The operation requirements of various payment businesses of Payment institutions will be standardized through corresponding system documents, not as the main contents of the implementation rules.

The implementation details focus on refining and interpreting the provisions of the measures relating to the payment agencies' business activities in accordance with the law and the protection of the legitimate rights and interests of customers.

This is helpful for the relevant entities to seriously understand the legislative purpose of the "method" when applying for the "payment business license" and avoid blindly participating in the competition in the service market.

Two, the main contents of the rules for implementation

There are 60 implementing rules, which mainly include the following 8 aspects:

(1) emphasizing the nature of the payment institution.

The nature of the non-financial institutions of the payment institutions should be defined, and Payment institutions should not be allowed to carry out business activities in the name of financial institutions.

(two) clarify the criteria for determining prepaid cards in the measures.

It is emphasized that as long as the pfer of funds involved between different legal persons is paid by prepaid cards, the prepaid card is within the scope of the regulation. 3 exceptions to the "method" are specified, including the limited payment of social security payments, the limited use of public pport, and the prepaid card which is limited to the payment of telephone charges and other communications costs.

(three) refining the qualifications of Payment institutions.

It mainly includes: the scope of the senior management of the applicant and the qualifications, technical titles and other requirements; the anti money laundering measures, the payment of business facilities, the organization and other contents of the applicant; the criteria for determining the main investor.

(four) to specify the requirements for application materials.

It mainly includes: written application, financial accounting report, content requirement of feasibility study report, material for acceptance of anti money laundering measures, certification of technical safety test, certification of relevant criminal subject without relevant criminal record and other related materials, requirements for qualification certificates of senior management personnel, major contributors, and requirements for applicants to announce specific application materials to society.

(five) refine the management requirements of the license.

Emphasis is placed on the publicity requirements for the payment business license in daily operation, the audit procedure for renewal of the payment business license and the re application procedure for the license's loss and damage during the validity period.

(six) refine the management of termination payment business.

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It is clear that the contents of the protection of the legitimate rights and interests of the clients submitted by the payment agencies when they apply for termination of payment business, and the information processing scheme for payment business.

(seven) refine the regulatory requirements for the daily operation of Payment institutions.

It mainly defines the disclosure requirements of the terms and conditions of the payment service agreement and the items and standards for paying business fees; the time limit for reporting the financial accounting reports; the filing requirements for the agencies engaged in or terminating the payment business; the management requirements for the customers' real name system that should be observed in the payment of the network payment; the requirements for the disaster recovery handling capacity of the payment institutions; the confidentiality and custodial responsibility of the basic information of the customer's identity, the information on the payment business, etc.

(eight) refining the supervision and management of customer payment.

Define the meaning and scope of the customer's reserve fund, and the requirements for the opening and using of the special deposit account for the reserve fund; clarify the different management requirements of the customer's reserve payment under normal circumstances and specific circumstances; clarify the time for the assessment of the reserve payment and the delivery requirements for the relevant information of the special deposit account; and emphasize the supervision and management responsibilities of the reserve depository bank.