, January 20. According to the website of the central bank, in order to further regulate the payment service market, prevent payment risks, and protect the legitimate rights and interests of the parties, the People’s Bank of China and relevant departments have studied and drafted the "Regulations on Non-bank Payment Institutions (Draft for Comment)" ( Hereinafter referred to as the "Regulations").

The "Regulations" strengthen anti-monopoly supervision measures in the payment field, clearly define the scope of the relevant market and the standards for determining market dominance, and maintain a fair competition market order.

  The "Regulations" consist of six chapters and 75 articles.

Including: Chapter I General Provisions, Chapter II Establishment, Modification and Termination, Chapter III Payment Business Rules, Chapter IV Supervision and Management, Chapter V Legal Liability, Chapter VI Supplementary Provisions.

  In terms of establishment, modification and termination, the "Regulations" proceed from my country's national conditions, insist that financial services must be operated with a license, and strengthen corporate governance requirements for payment institutions in accordance with the principle of "certificate before license", and implement comprehensive and full-process supervision.

At the same time, through the positive list plus the negative list, the conditions and prohibitions for becoming shareholders, actual controllers and ultimate beneficiaries of payment institutions are clarified, and the supervision of shareholder qualifications, actual controllers and ultimate beneficiaries is strengthened.

  In terms of payment business rules, the "Regulations" adhere to problem orientation, strengthen comprehensive supervision, and systematically put forward the principles and regulations that payment institutions must comply with when engaging in payment business.

One is to classify and determine business regulatory requirements based on the different risk levels of payment institutions engaged in stored-value account operations and payment institutions engaged in payment transaction processing businesses.

The second is to clarify that inter-institutional payment services initiated by payment institutions should be processed by clearing institutions with corresponding legal qualifications to ensure the safety and transparency of funds and information.

The third is to strengthen the management requirements of the reserve fund, emphasize that the reserve fund is not the self-owned property of the payment institution, and require the payment institution to deposit the reserve fund in the People’s Bank of China or a commercial bank that meets the requirements, and clarify the supporting prudential supervision measures. Protect the rights of users.

  In terms of supervision and management, the "Regulations" focus on strengthening financial supervision, taking prevention of systemic financial risks as the bottom line, and enriching supervision methods.

The first is to strengthen anti-monopoly regulatory measures in the payment field, clearly define the scope of the relevant market and the standards for determining market dominance, and maintain a fair competitive market order.

The second is to standardize the People's Bank of China's inspection power and inspection measures to ensure the effective exercise of the People's Bank of China's law enforcement power.

The third is to clarify the regulatory requirements for payment institutions’ equity pledges, innovative business development, and changes in major events to be filed with the PBC.

  In addition, the "Regulations" focus on preventing and dealing with risks in the payment field, resolutely cracking down on illegal activities, and rectifying financial chaos, clarifying the withdrawal of payment institutions, and increasing penalties for violations and violations of payment institutions. It is clear that institutions that operate payment services without a license shall be dealt with in accordance with the relevant provisions of the "Regulations on Prevention and Handling of Illegal Fund Raising", and the penalties for licensed institutions that provide payment business channels for institutions operating payment businesses without a license shall be increased.