The Chinese State Council issued regulations to regulate the behavior of non -bank pay

The State Council of China on Sunday (December 17) issued regulations on supervision and management of non -bank payment institutions to standardize non -bank payment institutions' behavior and prevent risks.

The regulations have a total of 60 chapters and 60, which will be implemented from May 1 next year.According to the definition of the regulations, non -bank payment institutions refer to companies that transfer monetary funds according to the electronic payment instructions submitted by users outside the banking financial institution.

Regulations stipulate that the establishment of non -bank payment institutions shall be approved by the Central Bank of China. Non -bank payment institutions shall take the purpose of providing small and convenient payment services.Do not engage in or disguised liquidation business.

The Regulations also clarify the management requirements of payment business, stipulating that non -bank payment institutions should improve business management and other systems, and have business systems, facilities and technologies that meet the requirements to ensure that the payment business is continuous, safe, and traceable.

The Regulations also clearly clearly stipulate the management regulations such as payment accounts, reserve funds, and payment instructions. The payment account is required to open it with the real name of the user.Create payment instructions to prevent non -bank payment industry risks.

In terms of protecting the legitimate rights and interests of users, the regulations stipulate that non -bank payment institutions signed a payment service agreement with users, and their terms shall be drafted in accordance with the principle of fairness.At the same time, non -bank payment institutions should ensure user funding and information security, and must not commission the relevant core business and technical services to handle third -party processing; it must also prevent the payment account for illegal fundraising, telecommunications network fraud, money laundering, gambling and other illegal and criminal activities.Essence

In addition, the regulations also clarify the central bank's supervision responsibilities, regulatory measures and risk disposal measures, etc., and stipulate the legal responsibilities of illegal acts.