Central Banking

PBOC plans to issue guidance for e-payments

The People's Bank of China (PBOC) will soon issue guidance for e-payment to prevent payment risk and regulate rights and obligations between clients and banks in e-payment transactions, according to the vice governor of the PBOC on Monday 5 September.

With development of network technologies and e-commerce, new payment ways like online payment, mobile payment have kept on emerging in recent years. From January to June the online payment amounted to 50 trillion yuan in China.