POBC Grants Third Party Payment Service Licenses to Foreign Invested Enterprises – m88 casino bonus code First of Such Kind

m88 casino bonus code People’s Bank of China (PBOC) – China’s Central Bank, have recently granted Third Party Payment Service Licenses to 27 companies. Reported by China Daily on m88 casino bonus code 16th July, this act by m88 casino bonus code PBOC constitutes a ‘seventh batch’ of such payment service licenses, after m88 casino bonus code PBOC have issued its ‘first batch’ in early 2011, up to 250 Chinese Enterprises have such license now. This ‘seventh patch’ of payment service licenses have been issued to high profile and well known enterprises, such as: Baidu – m88 casino bonus code largest search engine in China, and Sina – Known for its online Weibo Platform (a micro-blog similar to Twitter).

However, m88 casino bonus code significance of this batch lies not in those high profile enterprises, but in m88 casino bonus code fact that 2 of such payment licenses have been issued to foreign invested enterprises. Edenred China and Sodexo Pass China (Shanghai) are m88 casino bonus code first of anyforeign invested company to receive such payment service licenses. This is considered to be a groundbreaking move by m88 casino bonus code PBOC, as many foreign invested enterprises have attempted to apply for such payment service licenses before, but have been met with little success. This act by m88 casino bonus code PBOC now presents an opportunity for many foreign invested enterprises to apply for such license.

m88 casino bonus code application for a Third Party Payment Service License is listed under Chapter II in m88 casino bonus code Administrative Measures for m88 casino bonus code Payment Services Provided by Non-financial Institutions (Decree of m88 casino bonus code People´s Bank of China No.2 (2010)). General requirements include applicants must have a minimum registered capital of RMB 100 million for a national level license, or RMB 30 million for a provincial level license.