China Third-Party Payment Industry Report, 2012 New Report
After nearly a decade of “barbaric growth”, the Central Bank has successively issued “birth permits” for third-party payment enterprises since May 2011. As of August 12, 2012, it has issued five batches of Payment Business License for non-financial institutions, and a total of 197 third-party payment companies have been licensed, thus basically establishing the payment industry pattern in China.
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