Caixin OnlineFinance & EconomicsTop Stories Finance Alipay Awarded Third-Party Payment License
05.27.2011 17:37

Alipay Awarded Third-Party Payment License

Twenty-seven companies were issued third-party payment licenses on May 26, following licensing regulations released last June
By staff reporter Wang Shanshan

(Beijing) -- The People's Bank of China (PBOC) on May 26 released the first batch of licenses for third-party payment services to 27 operators, including Alipay, previously wholly-owned by the country's largest e-commerce provider Alibaba Group.

The PBOC, China's central bank, issued licensing regulations last June for third-party payment providers. It also issued separate guidelines for foreign-funded payment institutions.

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