The People's Bank of China and the China Banking and Insurance Regulatory Commission jointly issue the "Measures for the Administration of Bank Card Clearing Institutions"

The People's Bank of China and the China Banking and Insurance Regulatory Commission have jointly issued the "Administrative Measures for Bank Card Clearing Institutions", which will be implemented from November 1, 2025. The original "Administrative Measures for Bank Card Clearing Institutions" will be simultaneously abolished. The "Measures" adhere to the principles of overall opening and security, focusing on the actual situation of China's bank card clearing market. The "Measures" have been revised and improved in terms of administrative licensing, operation management, and supervision of bank card clearing institutions. The main contents include: 1. Application and Licensing: clarify the application conditions, application materials, and procedures for administrative licensing matters such as the preparation, opening, establishment of branch institutions, and the approval of qualifications for directors and senior executives of bank card clearing institutions. 2. Change and Termination: stipulate the management requirements for administrative licensing matters such as major changes in bank card clearing institutions, merger of branch institutions, termination of some or all operations, etc. 3. Operation Management: requirements for the operation of bank card clearing institutions, including clearing business rules, member institution constraints, risk management frameworks, and outsourcing business management. 4. Relevant provisions on supervision and management of bank card clearing institutions.