China to Release Regulation on 3rd-Party Payment
South Daily, 10/29/09
The People's Bank of China (PBoC) is currently internally discussing a draft of regulations concerning the management of payment and settlement organizations, and is soliciting feedback from industry sources. The regulations are expected to be released by the end of the year. Once the regulations are released, the PBoC will issue official licenses to third-party payment providers.
For more background on this topic, please see " People's Bank of China to Regulate Online Payment Industry," MD 4/20/09 issue.
Keywords: Internet regulation People's Bank of China third-party payment e-payment
Sending
