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Important Measures

Amendments to the Rules Governing the Administration of Electronic Payment Business

2019-08-15
To address needs of electronic payment institutions for business expansion, increase service completeness of electronic payment institutions and convenience for users to store value in their e-payment accounts, and strengthen risk control for fund recipients, the FSC amended the aforementioned Rules on July 2, 2019. Key points of the amendments are as follows: (1) electronic payment institutions are allowed to offer information conveyance service to users and issue physical “store-value cards specifically for e-payment accounts”; (2) a database for transactions between electronic payment institutions and fund recipient users shall be created; (3) electronic payment institutions are allowed to collect and make payments for charges, fees, taxes, utility bills and other service fees via e-accounts of financial institutions, convenience stores and supermarkets which are commissioned by all levels of government agencies or public utilities; (4) electronic payment institutions are allowed to make one-time advance payment for fees that their users shall pay for public transportation or parking lot services.
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  • Update: 2019-08-15
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