PBoC Releases More Payment Licenses Before Deadline

The People's Bank of China has granted its second batch of payment service licenses to 13 third-party electronic payment service providers, bringing the total number of license holders to 40, chinabyte.com reports. Baidu (Nasdaq:BIDU), NetEase (Nasdaq:NTES) and Suning(002024.SZ) did not get green light for their applications, said the report.

Earlier reports said PBoC would ban non-financial institutions from conducting payment services without the license starting from September 1.