The people's Bank of China issued the central bank's decree 21 days, formulated and promulgated the "non-financial institutions' payment service management measures", and standardized the payment business of non-financial institutions. The "measures" came into effect on September 1, 2010.

According to the "measures", payment services for non-financial institutions mainly include Internet payment, issuance and acceptance of prepaid cards, receipt of bank cards and other payment services determined by the central bank.

Among them, Internet payment includes currency remittance, Internet payment, mobile phone payment, fixed telephone payment, digital TV payment and so on.

The measures clearly stipulate that non-financial institutions shall provide payment services according to the provisions of these measures and become a payment institution.

The payment institutions accept the supervision and management of the people's Bank of China in accordance with the law.

Without the approval of the people's Bank of China, any non-financial institution and individual shall not engage in or disguise the payment business.

For the eligibility of applicants for business payment, the Measures stipulate that the minimum registered capital of the applicant who intends to engage in payment business nationwide is RMB 100 million yuan, and the minimum registered capital for the business to be paid within the province, autonomous region or municipality directly under the central government is RMB 30 million yuan.

The minimum amount of registered capital is paid in monetary capital.

The Measures stipulate that the pfer of money funds between Payment institutions shall be entrusted to the banking financial institutions, and shall not be handled in the form of mutual funds deposited by payment institutions or entrusted with other payment institutions.

Payment institutions shall not handle the pfer of monetary funds between banking financial institutions.