Will PayPal Thrive in China? - China's New Regulation of Third Party Payment Services

On June 21, 2010, the central bank of China issued the administrative rules governing payment services by non financial institutions (the “Rules”). The Rules are the first set of regulatory measures China has adopted towards non-bank third-party payment processors like PayPal. As such, the Rules is expected to fundamentally impact China’s third party payment service, an important feature and integral link of e-commerce. Eventually not only third party payment service providers will be affected, but e-commerce itself.

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