(Beijing Comprehensive News) China's payment field has developed rapidly, but there are illegal misappropriation of funds, providing telecommunications fraud funds transfer channels, etc. In order to prevent risks, relevant regulatory regulations will be implemented from May next year.
Comprehensive China Government Network and Xinhua News Agency on Sunday (December 17), Chinese Prime Minister Li Qiang recently signed the State Council Order to announce the supervision and management regulations of non -bank payment institutions.The regulations will be implemented on May 1 next year and are the first administrative regulations of the financial sector introduced after the Central Financial Work Conference.
Regulations stipulate that the establishment of non -bank payment institutions shall be approved by the People's Bank of China. The payment business is divided into two types: storage account operation and payment transaction processing. The specific rules are formulated by the People's Bank of China.At the same time, the payment account must be opened with the real name of the user.
In order to protect the rights and interests of users, the regulations prohibit non -bank payment institutions from outsourcing core business and technical services to third parties, and must properly preserve user information and transaction records to ensure the security of payment accounts.The regulations also clarify supervision responsibilities and legal responsibilities, and increase punishment for serious violations of laws and regulations.
Some analysts believe that the regulations have resolved the problems leftover in the Chinese payment industry for a long time, and the comprehensive supervision of payment institutions has been strengthened, which is conducive to preventing the risk of the payment industry.
Alipay, WeChat, Douyin and other large payment platforms have expressed support.
Central bank data shows that China has a total of 185 non -bank payment institutions as of the end of September this year. In 2022, the annual processing payment business exceeded 1.1 trillion strokes, and the amount was nearly 4 million yuan (S $ 75 trillion), respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively.The total number of Chinese electronic payment business is about 80%and 10%, and the service covers exceeding 1 billion people and tens of millions of merchants.
Under the rapid development, some payment institutions have also occurred from time to time.For example, illegal misappropriation of user funds, leaking or improper collection, and user information; individual payment institutions take risks to provide capital transfer channels for illegal crimes such as telecommunications network fraud and cross -border gambling.
