The Regulation on the Supervision and Administration of Non bank Payment Institutions, which will be implemented on May 1, further brings non bank payment institutions and their business activities into the track of rule of law for supervision. Yesterday (22nd), the People's Bank of China issued the detailed rules for the implementation of this administrative regulation (draft for comments). How will this administrative regulation be implemented? What will happen after implementation? Let's listen to the experts.

Set a reasonable transition period for certificate renewal to achieve a smooth transition

Non bank payment, in short, refers to payment services provided by other institutions rather than banks. For example, we often use Alipay and WeChat payment.

The Implementation Rules have clarified the procedures and schedule for issuing new payment agency licenses according to the new regulations. The transition period for renewal is set from the implementation date of the Detailed Rules to the expiration date of the payment business license of each payment institution. At the same time, considering that the expiration date of some payment institutions' licenses is close to the implementation date of the Implementation Rules, the transition period of these payment institutions is relaxed to 12 months.

At the expiration of the transition period, the People's Bank of China will renew the payment business license in accordance with the new regulations. The reporter learned that payment institutions that meet the conditions can also choose to apply for renewal of payment business licenses in advance.

Dong Ximiao, Chief Researcher of China CNTC: The payment institution has been given sufficient time to prepare during the transition period. At the same time, the original period of validity of the payment license of these payment institutions is five years, and they have to apply for an extension every five years. After the implementation of the new regulation, the payment license obtained by payment institutions has no period.

The implementation rules also specify that the approval authority of some payment institutions for changes should be appropriately delegated to reduce the level of approval.

Wen Bin, Chief Economist of China Minsheng Bank: For example, to change the company name or registered capital, only the branches of the People's Bank of China need to accept, review and decide. This will improve the efficiency of administrative licensing approval, and help to establish and improve an efficient and fast change handling mechanism.

According to the data, there are 183 non bank payment institutions in China so far. The annual transaction volume of non bank payment institutions exceeds 1 trillion and the amount is nearly 400 trillion yuan.

Do not change the original business scope of the payment institution

What are the new regulations on non bank payment institutions in the Implementation Rules? Experts said that the implementation rules adhere to the principle of stability, focus on regulatory consistency, and ensure the smooth transition of the payment market.

Experts said that the previous payment business was divided into three categories: online payment, bank card acquiring and prepaid card business. With technological innovation and business development, emerging methods such as bar code payment and face brushing payment have emerged. The Regulation on the Supervision and Administration of Non bank Payment Institutions proposes to re divide the payment business into two categories: stored value account operation and payment transaction processing. The implementation rules released this time proposed specific classification methods, which experts said would better meet market development and regulatory needs.

Wen Bin, Chief Economist of China Minsheng Bank: The implementation rules fully consider the licensing framework under the current classification mode, and will not change the original business licensing scope of payment institutions, that is to say, the original businesses of payment institutions are still available, which is expected to have no impact on the business continuity and user experience of payment institutions.

In addition, the Implementation Rules also clearly require that if a non bank payment institution wants to adjust the charging items or charging standards, it should make continuous publicity at least 30 days in advance, and the payment transaction records should be kept for at least 5 years. (CCTV reporter Zhang Daofeng)