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PBoC to Regulate Emerging Payment Services

China Business News, 4/26/08

Su Ning, deputy governor of the People's Bank (PBoC) of China, says that the PBoC will introduce regulations on the management of payment services, in order to set clear guidelines for entry and exit conditions for non-financial payment organizations, rules for services, risk prevention, internal controls, and external monitoring. The new regulations will regularize multi-use bank cards, third-party online payments, mobile payments, phone payments, and other emerging payment services.

Keywords: mobile payment online payment wireless Internet Su Ning People's Bank of China telecom regulation e-payment


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