With a view to obtaining an overview of the payment and clearing businesses of non-financial institutions, improving the regulatory and administrative policies for the payment services market, and safeguarding the legitimate rights and interests of the public, the People s Bank of China has decided that non-financial institutions engaged in payment and clearing businesses shall be registered with the PBC. Relevant provisions are hereby announced as follows:
1.Non-financial institutions engaged in payment and clearing businesses (Special Non-Financial Institutions, SNFI) in this Announcement refer to non-financial institutions with legal person status engaged in the full or partial range of payment and clearing businesses within the territory of the People s Republic of China, and the branches of such non-financial institutions.
2.Payment and clearing businesses in this Announcement include:
(a) online payment,
(b) issuance and clearing of electronic currency,
(c) inter-bank clearing of negotiable instruments,
(d) inter-bank clearing of bankcard-based transactions, and
(e) other payment and clearing businesses as approved by the People s Bank of China.
3.SNFIs established within the territory of the People s Republic of China prior to the release of this Announcement shall complete registration no later than July 31, 2009.
SNFIs established within the territory of the People s Republic of China after the release of this Announcement shall complete registration within one month after the launch of their payment and clearing businesses.
4.SNFIs shall submit the following materials to branch offices of the People s Bank of China located in the capital city of the provinces (autonomous regions, municipalities) where such SNFIs are domiciled:
(a) Registration Form of the Payment and Clearing Businesses of Special Non-Financial Institutions,
(b) Business procedures and management rules for the payment and clearing businesses,
(c) Internal control system and risk management measures,
(d) Copies of Business License (duplicate) as well as identity identification documents of the legal representative,
(e) Articles of Association,
(f) Capital verification certificate and audited financial accounting report of the previous year,
(g) name list and resumes of the senior management,
(h) Registration Form of Basic Information of Major Asset Providers of Special Non-Financial Institutions,
(i) Certificate of technical security,
(j) Proof of business cooperation provided by commercial banks,
(k) Statement of authenticity of documents provided, and
(l) Other materials required by the People s Bank of China.
The above materials shall be submitted in duplicate. The electronic version of the registration forms specified in (a) and (h) can be downloaded at www.pbc.gov.cn/?? ??? /?? .
5.In cases where a SNFI has to alter its registered items mentioned in the preceding paragraph, it shall register such alterations within three months after the resolution or decision on such alterations is made.
6.The People s Bank of China will, jointly with other relevant government agencies, clamp down on the activities that harm the rights and interests of consumers, irregularities and criminal activities.
7.The Shanghai Head Office, branches, operations offices, and capital central sub-branches of the People s Bank of China shall be in charge of the registration of SNFIs within the provinces (autonomous regions, municipalities) under their respective jurisdictions.
8.The registration will be used solely as a reference for policy-making, and shall not be deemed or interpreted as administrative decisions made by the People s Bank of China approving the registered payment and clearing businesses of SNFIs.
9.This Announcement shall enter into force on the date of its release.
People s Bank of China
April 16, 2009
