All financial institutions and payment institutions should follow the principles of "risk orientation" and "prudent balance".
1. A third-party payment institution shall engage in business activities according to the business scope approved by the Payment Business License issued by the People's Bank of China, and shall not engage in business beyond the approved scope. Payment institutions shall not transfer or transfer, lease or lend the payment business license in disguised form. Without the approval of the People's Bank of China, no non-financial institution or individual may engage in or engage in third-party payment business in disguised form.
2. The transfer of monetary funds between third-party payment institutions shall be entrusted to banking financial institutions, and shall not be entrusted to other payment institutions by depositing funds among them.
3. The customer reserve funds of third-party payment institutions shall be managed separately from their own funds, and must be fully deposited in qualified reserve banks.
Data expansion:
Banking financial institutions of the People's Republic of China refer to commercial banks, urban credit cooperatives, rural credit cooperatives, other financial institutions and policy banks established in People's Republic of China (PRC). China Banking Insurance Regulatory Commission (hereinafter referred to as China Banking and Insurance Regulatory Commission) is responsible for the supervision and management of banking financial institutions and their business activities throughout the country.
What security requirements do payment institutions need to comply with?
Payment institutions should have the necessary technical means to ensure the integrity, consistency and non-repudiation of payment instructions, the timeliness and accuracy of payment business processing, and the security of payment business; Have the ability of disaster recovery and emergency treatment to ensure the continuity of payment business.
The payment institution shall improve its own unit (customer risk management system). Payment institutions shall keep the business secrets of customers in accordance with the law and shall not disclose them to the public. Except as otherwise provided by laws and regulations. The payment institution shall properly keep the basic information of customer identity, payment business information, accounting files and other materials.