Non-Financial Institutions To Pay For The Service Management Approach

Original Language Title: 非金融机构支付服务管理办法

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Read the untranslated law here: http://www.chinalaw.gov.cn/article/fgkd/xfg/gwybmgz/201011/20101100328937.shtml

Non-financial institutions to pay for the service management approach

    (June 14, 2010 people's Bank of China Decree [2010] 2nd announcement as of September 1, 2010) Chapter I General provisions

    First to promote the healthy development of the market for payment services, specification for non-financial institutions to pay for the service against payment risks, protect the legitimate rights and interests of the parties, in accordance with the People's Republic of China people's Bank of China and other laws and regulations, these measures are formulated.

    II non-financial institutions to pay for the service in these measures refers to non-financial institutions as intermediaries between payers and provides the following part or all of the money transfer service:

    (A) online payment;

    (B) prepaid cards issued and accepted;

    (C) bank card acquiring;

    (D) the rules of the other payment services.

    Online payments mentioned in these measures refers to relying on public or private network between payers and transferring money, including currency exchange, Internet, mobile phone paid paid paid, fixed telephone, digital TV, and so on.

    Prepaid cards mentioned in these measures refers to for profit distribution, outside the issuer purchased prepaid value of goods or services, including technologies such as magnetic stripe, chip card, password, issued in the form of prepaid cards.

    Bank card acquiring in these measures, by means of point of sale (POS) terminals and card merchant to collect money for the Bank.

    Article III not provide payment services to financial institutions, shall be made pursuant to this regulation the payment business license, payment institutions.

    Payment institutions shall be subject to the rules of supervision and management.

    Been approved by the people's Bank of China, and shall not engage in any non-financial institutions and individuals, or in disguise, in payments.

    Article fourth transfer of monetary funds between payment institutions shall entrust the handling of banking institutions, not by paying agencies kept the money funds or other form such as paying agent.

    The paying agent may handle transfer of cash between banking institutions, except for special permission.

    Article fifth paying agencies must follow safety, efficiency, integrity and fair competition principle and must not harm national interests, public interests and the customer the legitimate rights and interests.

    Article sixth payment institutions shall comply with the relevant anti-money laundering regulations, compliance with anti-money laundering obligations.

    Chapter II application and permission

    Seventh people's Bank of China is responsible for the issuing and managing of the paid license.

    Apply for the payments business license, after review by the people's Bank of China branches, where you want, people's Bank of China approval.

    People's Bank of China branch in these measures refers to more than deputy provincial city branch of the people's Bank of China branches.

    Eighth article the payment business license applicants must meet the following conditions:

    (A) in the People's Republic of China territory, shall be a limited liability company or Corporation, and legal persons for non-financial institutions;

    (B) comply with the minimum amount of the registered capital as provided herein;

    (C) is consistent with the contributors as provided herein;

    (D) Senior Manager of 5 or more familiar with payment;

    (E) meet the requirements of anti-money laundering measures;

    (F) meet the requirements of the payment facility;

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

    (VIII) that complies with the requirements of the business premises and security measures;

    (I) the applicant and his senior management staff within the last 3 years not because they use payment services implementation of illegal and criminal activities or conduct payments for illegal and criminal activities have received punishment. Article applicant engaged in payment services across the country, the minimum registered capital of 100 million Yuan to be in the province (autonomous regions and municipalities) within the payments business, the minimum registered capital of 30 million Yuan.

    Minimum registered capital paid up capital.

    The payments referred to in the country, including provinces (autonomous regions and municipalities) set up branches engaged in payment services, or customers across provinces (autonomous regions and municipalities) for processing of payment.

    People's Bank of China according to relevant laws and regulations and policy provisions, adjust the minimum amount of the registered capital of the applicant.

    Foreign investment agency's business scope, eligibility conditions and overseas contributors funded ratio, provided separately by the people's Bank of China, the State Council for approval.

    The main contributor of the article the applicant shall comply with the following conditions:

    (A) legally established as limited liability companies or limited;

    (B) as at the date of filing, continuous information processing support services for financial institutions for more than 2 years, or, provide information support services for e-commerce activities for more than 2 years;

    (C) as at the date of filing, and profits more than 2 years in a row;

    (D) not because they use payment services within the last 3 years to implement criminal activities or conduct payments for illegal and criminal activities have received punishment.

    Main contributor in these measures, including has actual control over Fund-applicant 10% above stakes and investors.

    11th the applicant shall submit the following documents and information to the people's Bank of China branches, where:

    (A) an application in writing containing the applicant's name, domicile, registered capital, institutional settings, to apply for payment services;

    (B) the business license (duplicate) copy;

    (C) the articles of Association;

    (D) the capital verification certificate;

    (V) financial accounting report audited by an accounting firm;

    (F) cover operational feasibility study report;

    (G) the acceptance materials on measures against money-laundering;

    (VIII) technical safety testing and certification certificates;

    (I) the curriculum vitae of senior management material;

    (J) the applicant and his senior managers certificate material;

    (11) the main contributor of related materials;

    (12) application information authenticity statement.

    12th after receipt of the accepted applicant shall publish the following as required:

    (A) the registered capital and ownership structure of the applicant;

    (B) the main contributor of the list, ownership and financial situation;

    (C) the intention to apply for payment operations;

    (D) the place of business of the applicant;

    (E) payment facilities technical safety testing and certification to prove it. 13th branch of people's Bank of China shall administer to meet the requirements of admissibility of the application, and to set out its preliminary comments and applications submitted to the people's Bank of China.

    Examined and approved by people's Bank of China, the payments business license issued according to law, and make an announcement. The payment from the date of issue of the business license, valid for 5 years. Paying the Agency intends to pay business license after the expiration of the payment service, shall, before the expiration of 6 months renewal application to the people's Bank of China branches, where within.

    People's Bank of China granted the renewal, renewal for a period of 5 years at a time.

    Payments made institution to change 14th of the following matters, to the company registration office before the application for registration of changes should be reported to the people's Bank of China agreed to:

    (A) the change of the company name, registered capital, or organization;

    (B) change the main contributor;

    (C) the merger or Division;

    (D) adjust the type of business or change their business coverage.

    15th the paying agent to the application of the termination payment, shall be submitted to the people's Bank of China branches, where the following documents and information:

    (A) a written application signed by the legal representative of the company, stated the company name, payment services, proposes to terminate the payment service and termination of reasons;

    (B) the business license (duplicate) copy;

    (C) the payment business license copy;

    (D) clients ' legal programmes;

    (E) payment processing solution.

    Termination of grant, the paying agent shall, in accordance with the rules of the reply of the complete termination of work, return the payments business license.

    Section 16th chapter on matters not provided for in the licensing procedure, application of the rules of the implementation of administrative licensing policy (people's Bank of China [2004] 3rd).

    Chapter III supervision and management

    17th the paying agent shall pay the business license in accordance with the approved scope of business engaged in business activities shall not engage in business beyond the approved scope, outsourcing may not be.

    The paying agent shall not transfer, lease or loan the payment business license.

    18th payment institutions should operate on prudent business requirements, develop payment methods and customer rights protection measures, establish a sound internal control and risk management system, and reported to the people's Bank of China branches, where the record.

    19th the paying agent shall determine the fees and charges of payment services, and reported to the people's Bank of China branches, where the record.

    Payment institutions shall publicly disclose its payment service fees and charges.

    Article 20th payment institutions shall be provided to the local people's Bank of China branches to submit payment statistics reporting and financial accounting reports and other information.

    Article 21st payment institutions should develop payment service agreement, clear it with the customer's rights and obligations, principles to settle disputes, breach of contract and other matters.

    Payment institutions shall publicly disclose standard terms of service agreement, and reported to the people's Bank of China branches, where the record.

    22nd branch for payment operations of payment institutions, payment institutions and their branches shall be respectively to the people's Bank of China branches, where the record.

    Payment institutions branch of the termination payment, apply mutatis mutandis to the preceding paragraph shall be followed.

    Article 23rd payments institutions when preparing customer payment can only be charged to pay service fees invoiced to the customer, shall not be accepted by the customer reserve the amount invoiced.

    24th payment institutions customers reserve does not belong to the paying agent's own assets. Payment institutions can only transfer payment according to the customer's payment orders.
Prohibit any form of misappropriation of clients in the paid deposit.

    25th paying agencies should be documented in a customer payment orders initiated by the following:

    (A) the name of the payer;

    (B) determine the amount;

    (C) the name of the payee;

    (D) the name of the payer's bank name or the paying agent;

    (E) the name of the payee's bank or payment institution name;

    (F) the launch date of the payment instructions. Customers pay with your bank account, payment institutions should also be recorded in the appropriate bank account.

    Customers pay with your non-bank settlement accounts, the paying agent shall record the customer's name and number on the ID. Payments made institution customers reserve the 26th, should open reserve special deposit accounts in commercial banks deposit reserve of gold.

    Except as otherwise provided in the rules of the.

    Payment institutions can only choose a commercial bank as reserve depository bank and a branch of the commercial bank opened only one reserve a special deposit account.

    Payment institutions should work with commercial bank Corporation or an authorized branch reserve depository agreement signed, specify the rights, obligations and responsibilities of both parties.

    Payment institutions shall submit to the local people's Bank of China branches reserve depository agreements and reserve a special deposit account information.

    27th branch of the paying agent shall not in their own name open reserve special deposit accounts, can only be accepted by reserve stored in a paying agent reserve special deposit accounts opened.

    28th pay restructuring different reserve a special deposit account and reserve depository Banking Corporation reserve dedicated to paying agencies to revise the review balances in deposit accounts and review advice to pay agencies and relevant reserve depository banks.

    Payment institutions shall reserve depository banks to review the advice issued by the Corporation relating to reserve a special deposit account transfers.

    29th reserve depository banks should be stored in the body's customers reserve the use of monitoring and required to reserve depository bank people's Bank of China branches and reserve depository banking institution submit customer reserve by depository or usage information.

    Paying agency violates the 25th to 28th of the related provisions of article using the customer reserve the application or instruction, reserve depository bank shall refuse found customers reserve is illegal use or other abnormalities, should not hesitate to reserve depository bank people's Bank of China branches and reserve depository Bank Corporation reports.

    Article 30th payment institutions paid in cash reserve ratio of average daily balance with the customer, shall not be less than 10%.

    Customers reserve average daily balances in these measures refers to reserve depository banking institution according to the most recent daily day-end customers 90 days to pay agencies reserve calculates the average of the total.

    31st paying agencies should be required to check the customer's valid identity documents or other valid identification documents, and register basic customer identification information.

    The paying agent knows or should know the customer uses their business to pay illegal and criminal activities, should be stopped for it to carry out the payments.

    Articles 32nd to pay shall have the necessary technical means to ensure integrity, consistency, and nonrepudiation of the payment instructions, payment of the timeliness, accuracy and payment security; disaster recovery and emergency response capacity, and ensure continuity of payments. Article 33rd payment institutions shall safeguard the client's business secrets, no external leaks.

    Except as otherwise provided by laws and regulations.

    Article 34th payment institution shall, in accordance with the regulations for safe keeping customers basic information, payment information, archives and other information.

    35th payment institutions should accept the people's Bank of China and its branches, regular or periodic on-site examination and off-site, provide relevant information, and may not refuse or obstruct or avoid detection, shall not misrepresent, conceal, destroy relevant evidence.

    36th people's Bank of China and its branches in accordance with the law, administrative regulations, and relevant regulations of the people's Bank of China on the paying agent on corporate governance, operations, internal control, risk, anti-money laundering work of regular or non-regular on-site examination and off-site.

    People's Bank of China and its branches shall pay to conduct an on-site inspection, application of the rules of the regulations on the inspection of law enforcement programs (people's Bank of China Decree [2010] 1th).

    37th people's Bank of China and its branches may take the following measures to make on-site inspections of the paying agent:

    (A) asked to pay agency workers, asking them to explain to be checked, description;

    (B) inspection and copying documents relevant to the issues under investigation, information may be transferred, concealment or destruction of documents and materials to be sealed;

    (C) check the payment institution's customers to reserve a special deposit account and account;

    (D) check payment facilities and related infrastructure.

    38th the paying agent has any of the following circumstances, people's Bank of China and its affiliates have the right to order the finished part or all of the payment:

    (A) 50% of accumulated losses exceed fully paid-up;

    (B) major operational risks;

    (C) there are serious violations.

    39th pay agencies for dissolution, termination is revoked or declared bankrupt according to law, and its liquidation in accordance with the relevant State laws and regulations.

    The fourth chapter penalty

    40th staff of the people's Bank of China and its branches have any of the following circumstances shall be given administrative sanctions constitutes a crime, criminal responsibility shall be investigated in accordance with law:

    (A) in violation of regulations, examination and approval of the payment business license application, modification, termination and other matters;

    (B) the breach over the inspection of the paying agent;

    (C) disclose State secrets or business secrets obtained;

    (D) other acts of abuse their powers, neglect their duties.

    41st commercial bank, one of the following circumstances, people's Bank of China and its branches shall be ordered to correct within, and given a warning or a fine of between 10,000 yuan and 30,000 yuan in serious cases, people's Bank of China ordered to suspend or terminate the customer reserve depository services:

    (A) is not required to submit the customer reserve the custody or use of information;

    (B) is not required to pay restructuring reserve a special deposit account to review positions;

    (C) failure to pay damages for the breach of the requirement to use customer provisioning request or directive be rejected.

    42nd the paying agent has any of the following circumstances, people's Bank of China branches ordered to rectify, and given a warning or a fine of between 10,000 yuan and 30,000 Yuan:

    (A) is not in accordance with the regulations establish a system or risk management measures;

    (B) not complying with the provisions of relevant filing procedures;

    (C) is not required to publicly disclose relevant matters;

    (D) is not required to submit or keep information;

    (E) not complying with the provisions of related changes;

    (Vi) is not invoiced to the customer as required;

    (VII) not complying with the provisions to protect the customer's trade secrets.

    43rd the paying agent has any of the following circumstances, people's Bank of China branches ordered to rectify, and a fine of 30,000 yuan in serious cases, the rules of cancellation the payments business license; a suspected crime, transferred to the public security organs filed for investigation by law constitutes a crime, criminal responsibility shall be investigated in accordance with law:

    (A) the transfer, lease or loan the payment business license;

    (B) beyond the approved scope of business or outsourcing;

    (C) are not required to store or use the customer reserve the;

    (D) has not complied with paid-up capital, customer reserve ratio regulations;

    (E) without justifiable reason to interrupt or terminate the payment service;

    (F) refuse or impede the inspection and supervision;

    (VII) other payment institutions functioned, clients ' lawful rights and interests or against violations in the payment services market.

    44th payment authority is not complying with the provisions of anti-money laundering obligations, people's Bank of China and its branches based on relevant laws and regulations against money laundering are punished in serious cases, the rules of cancellation the payments business license.

    Article 45th payment institutions beyond the payment validity period is to continue to pay business license business, people's Bank of China and its branches ordered to terminate the payment service; a suspected crime, transferred to the public security organs filed for investigation by law constitutes a crime, criminal responsibility shall be investigated according to law.

    Article 46th in the payments business permits from the fraudulent or other improper means but has not been approved, applicants and holders of the 5% per cent of its equity investor 3 years to apply again or participate in the payments business license application.

    To cheat, not due means application paid business license and has was approved of, by people's Bank of China and branch institutions ordered its terminated paid business, cancellation its paid business license; suspected crime of, law transferred police organ filed investigation; constitute crime of, law held criminal; applicants and the holds its 5% above equity of funded people shall not again application or participation application paid business license.

    47th article of any non-financial institutions and individuals without approval of the people's Bank of China without authorization or in disguise, in payment, people's Bank of China and its branches ordered to terminate the payment service; a suspected crime, transferred to the public security organs filed for investigation by law constitutes a crime, criminal responsibility shall be investigated according to law.

    The fifth chapter by-laws 48th paid before the implementation of these measures has been engaged in the business of non-financial institutions, implementation of this approach should be applied for payment within 1 year from the date of business license.

    Fails to obtain, shall not continue to pay business.

    49th article of the approach by the people's Bank of China is responsible for the interpretation. 50th these measures shall come into force on September 1, 2010.