Third party payment implementation rules issued

"Caijing comprehensive report" The People's Bank of China 3rd publicly issued "Non-financial institutions payment service Management measures" (hereinafter referred to as the "rules"), the payment agencies engaged in the payment business of the most basic rules, the applicant qualification conditions, etc. to refine. The implementation of the rules of the introduction of the third party to pay the business license to apply for the final policy threshold to eliminate. According to the Southern Metropolis Daily, some central bank authorities have revealed that the first permits are likely to be issued within the year. There are also sources in the industry that the first batch of payment licences should be no more than 5, statistics show that in 2008, China's third party electronic payment market size reached 274.3 billion yuan, compared with 2007 's 97.6 billion Yuan year-on-year growth of 181%; 2009 Third party payment market size has reached 600 billion yuan This figure is expected to exceed 1 trillion yuan in 2010.　　By 2012, the size of the national transaction will exceed 2 trillion yuan.　　The licence application war has become a key battle for third-party payment enterprises to win.　　The following is the full text of the announcement: the People's Bank of China announces (2010) 17th to cooperate with "non-financial institution payment service Management measures" (People's Bank of China Order (2010) 2nd) Implementation, the People's Bank of China has formulated the "non-financial institutions to pay service management measures" implementation, is announced.　　The People's Bank of China December 1, 2010 Implementing rules for the administration of payment services for non-financial institutions The first article makes these rules according to the measures for the administration of payment services of non-financial institutions (PBC Order (2010) 2nd, hereinafter referred to as "methods") and relevant laws and regulations.　　The prepaid cards referred to in the second option do not include: (i) prepaid cards limited to Social Security payments and (b) only prepaid cards for public transport; (c) Prepaid Cards limited to the payment of communications charges such as telephone charges; (iv) prepaid cards issued by the issuer and the merchant as the same legal person. Article eighth of the Measures (iv), referred to as 5 senior managers who are familiar with the payment business, means that at least 5 of the applicants ' senior managers have the following qualifications: (i) having a university degree or above or having an accounting, economic, financial, computer, electronic communication,　　Information security and other professional intermediate technical titles, (ii) engaged in the settlement business or financial information processing business for more than 2 years or engaged in accounting, economic, financial, computer, electronic communications, information security work for more than 3 years.　　The senior management mentioned in the preceding paragraph includes the General manager, deputy general Manager, financial officer, technical person or person who actually performs the above duties.　　Fourth article eighth of the Measures (v) of the measures to counter money-laundering, including anti-money-laundering internal control, customer identification, suspicious transaction reports, customer identification information and transaction records, such as the prevention of financial criminal activities such as money-laundering, terrorist financing and other measures. Fifth the payment of operational facilities referred to in subparagraph (vi) of article eighth of the measures, including paymentBusiness processing system, network communication system and the special room to accommodate the above system.　　Sixth the organizational structure referred to in article Eighth (vii) of the measures, including those with compliance management, risk management, capital management and system operation maintenance functions.　　Seventh the information processing support services referred to in article Tenth (ii) of the approach include information processing services and support services for information processing. Eighth the investor who has the actual control of the applicant, as mentioned in article tenth of the measures, includes: (a) the investor who directly holds the applicant's shareholding in excess of 50%, and (b) the investor who holds the interest of the applicant directly and holds more than 50% of the applicant's shareholding;　　Holders of direct ownership of the applicant and its indirect ownership of the applicant is less than 50%, but in accordance with its right to vote for the shareholders meeting, the general meeting of the investors have a significant impact on the resolution.　　Nineth article tenth of the measures, the investor who holds more than 10% of the applicant's equity, includes: (a) the investor who directly holds the applicant's stake of more than 10%, and (b) the investor who holds the interest of the applicant directly and has a cumulative interest of more than 10%.　　The written application referred to in article tenth (a) of article 11th of the approach shall specify the specific type of application to be made for the payment business.　　The copy of the business license (copy) referred to in article 11th of the measures 11th (ii) shall be stamped with the official seal of the applicant.　　12th the Financial accounting report referred to in article 11th (v) of the approach refers to the financial accounting report up to the last 1 years of the application date.　　If the applicant has been established for less than 1 years, the Financial accounting report shall be submitted during the surviving period. Article 13th the Feasibility Study report on the payment business referred to in article 11th (vi) of the approach shall include the following: (i) Market prospect analysis of the proposed payment business; Set out from the customer to initiate payment business to complete the customer entrusted to pay the business aspects of the business and related funds flow; (iii) The means of technical realization to be engaged in payment business; (iv) Risk analysis and management measures to be engaged in payment business; (v)　　Analysis of economic benefits to be engaged in payment business.　　Where the applicant intends to apply for different types of payment business, the provisions of the preceding paragraph shall be provided separately according to the type of payment business. Article 14th the acceptance of anti-money-laundering measures as referred to in article 11th (vii) of the measures, refers to reports that include the following: (i) Anti-money Laundering internal control system document containing anti-money laundering compliance framework, customer identification and data preservation measures, suspicious transaction reporting measures, transaction record preservation measures, anti-money laundering audits and training measures , assisting in the internal procedure of Anti-Money laundering investigation, the secrecy measures of anti-money laundering work; (ii) Anti-money-laundering post setup and responsibility statement, set out the internal institutions responsible for anti-money laundering, the senior management of anti-money laundering and the full-time anti-money-laundering staff and theirContact information; (iii) technical specifications for the conduct of suspicious transaction monitoring.　　15th of the measures, article 11th (eight), the Technical Safety inspection certification, refers to the documents and materials which indicate that the payment facility complies with the business norms, technical standards and safety requirements stipulated by the People's Bank of China, and shall include the inspection report issued by the testing organization and the certification certificate issued by the Certification body.　　The above mentioned testing institutions and certification bodies shall be recognized by China National Accreditation Committee for Conformity Assessment (CNAS), and in line with the requirements of the PBC on technical safety testing and certification capabilities.　　The PBC and its affiliates may require the applicant to re-examine the inspection and certification if there is a major defect in the procedure or method of technical safety inspection and certification, or if the procedures and methods for technical safety testing are not carried out in accordance with the business norms, technical standards and safety requirements stipulated by the People's Bank of China.　　16th the biographical material referred to in subparagraph (ix) of article 11th of the measures, including the biographical notes of senior managers and the relevant certification materials for academic qualifications and technical titles. 17th the relevant materials of the principal contributors referred to in article 11th (11) of the measures shall include the following documents and information: (i) the applicant's explanatory material on the relationship between the investor and the principal contributor; (b) A copy of the company's business license (copy) of the main investor (c) The business cooperation certificate issued by the main investor's Information processing support service Cooperation Organization, contains the service content, the service time, and stamped the official seal of the Cooperation Organization; (iv) Financial accounting reports of major contributors audited by CPA firms in the last 2 years;　　The principal contributor has not been punished for the use of the payment business in the last 3 years for committing illegal or criminal activities or for handling payment business for illegal and criminal activities.　　Where the principal contributor is a financial institution, a copy of the relevant financial business license and the supporting documents of the investment payment institution shall be submitted.　　The Declaration of Authenticity of the application information referred to in article 11th (12) of the 18th article refers to a written document issued by the applicant indicating that the applicant is responsible for the authenticity, accuracy and completeness of the submitted documents and information.　　The Declaration of Authenticity of the application information shall be signed by the applicant's legal representative and stamped with the official seal.　　19th article of the measures 11th, 13th, 14th, 15th, the required documents and information are written in Chinese, and should provide paper documents and electronic documents (data CD-ROM) in three copies.　　20th the applicant shall, within 10th from the date of receipt of the notification, continuously announce the matters listed in article 12th of the "measures" on the website of the Central People's Bank branch for 3rd.　　The 21st article "Payment business license" divides into the original and the duplicate, the original and the duplicate have the same legal effect. The payment agency shall place the Payment business License (original) in the prominent position of its domicile. Where the payment institution has an Internet site, it should also publicize its "Payment Business License" (original) image information prominently in the homepage of the website.　　22nd a payment institution applies for renewal of the payment business license, the following documents and materials shall be submitted: (a) written application signed by the legal representative of the company, stating the name of the company, the development of the payment business and the reasons for the renewal of the application; (b) A copy of the company's business license (copy); (iii) "Payment business license"　　(copy) copy.　　Where the payment institution applies for renewal of the payment business license, it shall not simultaneously apply for the alteration of other matters.　　23rd the People's Bank of China shall make a decision on whether to grant the renewal of the payment business license after a comprehensive review and comprehensive evaluation of the payment institution's operation.　　If the PBC permits the renewal of the term of payment business license, the payment institution shall return the original permit and obtain a new license. 24th "Payment Business license" shall not be lost or destroyed by force majeure within the validity period, the payment institution should, within 10th from the date of its confirmation of the license loss and damage, continue to announce 3rd in the national newspaper designated by the People's Bank of China and the local newspapers designated by the branch of the PBC,　　Declare the original license void.　　25th Payment Institution shall, within 10th from the date of the announcement of the loss of the payment business license and the end of the damage, apply for a new license to the branch of the PBC.　　The People's Bank of China after the audit to the payment agencies to reissue the Payment business license.　　26th "Payment Business License" (copy) in the period of validity of loss, damage, in comparison with the rules 24th, 25th.　　27th A payment institution proposes to change the matters listed in article 14th of the measures, it shall submit to the local people's Bank of China a written application signed by the legal representative of the company stating the name of the company, the proposed change and the reasons for the change. 28th article "Measures" article 15th (iv) of the customer legal rights and interests of the protection scheme, shall include the following: (a) the protection of the right to know the customer, clearly inform the customer of the reasons for termination of payment business, stop accepting the customer entrusted to pay business time, the intention to terminate the payment business follow-up arrangements;　　To protect the customer's privacy, to clarify the receiving organization of the customer's identity information, the transfer arrangement, the method of destruction and the supervision arrangement; (iii) the protection of the right of customer choice, clear for customers to choose from, more than two customers to prepare payment refund scheme.　　If the client's legal rights and interests protection scheme involves other payment institutions, it shall also submit the relevant supporting documents of the customer's identity information Transfer agreement signed by the payment institution concerned and the client's payment refund arrangement.　　29th the Payment Business Information processing scheme referred to in subparagraph (v) of article 15th of the measures shall expressly pay for the receiving institution and the transfer arrangement, the mode of destruction and the supervision arrangement of the service.　　Where other payment agencies are involved, the relevant supporting documents relating to the transfer agreement of payment business information signed with the payment institution concerned shall also be submitted. 30th the payment institution shall, in accordance with the laws and regulations, the relevant provisions of departmental regulations determine the fees and charges for their payment operations.　　Where laws, regulations or departmental regulations do not expressly pay for the fees and charges of the business, the payment institution may reasonably determine the fees and charges for its payment business in accordance with market principles. The payment institution shall disclose the charging items and the charging standard of its payment business in a prominent position in the place of business.　　Where the payment institution has an Internet site, it should also be disclosed prominently in the homepage of the website.　　Where the payment institution adjusts the charging item or the charging standard of the payment business, it shall continue to publicize 30th in accordance with the provisions of the preceding paragraph before implementing the new payment business charge item or fee standard.　　31st The payment institution shall, within 4 months from the end of each fiscal year, submit to the local people's Bank of China branch The Financial accounting report audited by the accounting firm in the previous fiscal year.　　32nd a payment service agreement, referred to in article 21st of the approach, includes a contract in the form of paper or data message that meets the requirements of the law and Regulations and is available for retrieval. The payment institution shall disclose the content of the format clause of its payment service agreement in a prominent position in the place of business.　　Where the payment institution has an Internet site, it should also be disclosed prominently in the homepage of the website.　　33rd the Payment service agreement format clause of the payment institution shall follow the principle of fairness, and define the rights, obligations and responsibilities between the payment institution and the customer in a comprehensive and accurate way.　　The payment agency shall draw the attention of the customer to the content of the payment service agreement format clause which exempts or restricts its liability and explains it. Where the payment institution intends to adjust the terms of the payment service agreement, it shall inform the customer of the 30th before the adjustment and indicate the content to be adjusted.　　If the customer has not been notified of the obligation, the adjusted terms are not binding on the customer.　　34th article 22nd of the measures, the branch of the payment institution is engaged in the payment business for the record formalities, the following documents and information shall be submitted: (i) a written report signed by the legal representative of the company, (b) a copy of the Payment Business license (copy), and (c) a copy of the business license (copy) of the branch office.　　The above documents and materials need to provide paper documents in two copies, by the payment agencies and their subsidiaries to the location of the PBC branch. The payment institution may apply for the Payment Business license (copy) for the registered branch company according to the business needs.　　The branch office shall place the "Payment Business License" (copy) in the prominent position of the branch office residence. 35th article 22nd of the measures, the branch of the payment institution shall terminate the payment business for filing formalities, the following documents and information shall be submitted: (i) a written report signed by the legal representative of the company, (b) a copy of the Payment Business license (copy), and (iii) a copy of the business license (copy) of the branch office;　　Customer legal rights and Interests Protection program; (v) Other information requested by the People's Bank of China.　　The client's legal rights and interests protection programme referred to in subparagraph (iv) of the preceding paragraph is dealt with under rule 28th of these rules. The above articlePieces, data need to provide paper documents in two copies, by the payment agencies and their subsidiaries are submitted to the location of the PBC branch.　　The subsidiary company of the payment institution shall return the Payment business license (copy) held at the time of filing. 36th article 32nd of the approach, disaster recovery processing capacity, means that the payment institution shall resume payment within 24 hours after the interruption of the payment business, and at least meet the following requirements: (i) system provisions with emergency treatment and disaster recovery; (b) have a sound emergency response plan and drill plans;　　Have the necessary disaster recovery processing personnel and emergency business premises; (iv) with the computer room data backup facilities and the same city application level backup facilities.　　37th the payment institution causes the payment business to suspend for more than 2 hours because of an emergency, it shall immediately report the relevant situation to the PBC branch and report the cause, influence and remedial measures of the accident in writing within 3 working days.　　Where a subsidiary of a payment institution occurs, the payment institution and its branch office shall report separately to the PBC branch of the bank in the preceding paragraph.　　38th the payment institution shall take the necessary management measures and technical measures to prevent the loss, damage and leakage of information such as customer identity information and payment business information. The payment institution shall not provide any form of information such as customer identity information and payment business information.　　Unless otherwise stipulated in the laws and regulations.　　39th the custody term of the payment institution for the customer's identity information and payment business information is kept for at least 5 years from the end of the business relationship.　　Where suspicious transactions or criminal activities being investigated by the judiciary involve customer identity information and payment of business information, and the relevant investigation is not completed at the expiration of the minimum retention period specified in the preceding paragraph, the payment institution shall keep it to the end of the relevant investigation.　　40th the payment institution shall apply the relevant provisions of the accounting records management measures ((1998)32, accounting characters issued) in the custody period of the accounting files.　　41st article 38th of the measures, which is referred to as a major violation, includes: (i) the senior management of the payment institution is still carrying out the payment business in the knowledge that the other person has committed the criminal activity; (b) The payment institution has repeatedly occurred to the staff member who knowingly commits the offence to the payment business. 42nd the rules are implemented from the date of release.