"China Payment Industry Annual Report 2022" released
By the end of 2021, China has more than 4,300 licensed institutions engaged in payment, clearing and settlement services, mainly including banking financial institutions, finance companies, non-bank payment institutions, and infrastructure operating institutions. In addition, there are a large number of upstream and downstream institutions such as outsourcing service agencies, financial technology companies, software and hardware equipment providers, and testing and certification agencies.
Banking institutions are the cornerstone of the high-quality development of the payment industry. By the end of 2021, there were more than 4,000 banking institutions in China, with a total of 13.664 billion accounts opened and 59.33 million merchants serving.
Payment institutions intensively cultivate the retail payment service market. By the end of 2021, China has a total of 224 legal persons of payment institutions, 1,569 branches, 49,400 employees, and 5.700 billion in-use payment accounts for customers, including 3.244 billion active payment accounts.
Infrastructure operators are the foundation of multi-level payment service networks and product systems. There are currently 16 infrastructure operators in China, including payment and clearing system operators, securities registration and settlement system operators, and central counterparty institutions.
Outsourcing service agencies are the market choice for the division of labor in payment services. By the end of 2021, 11,640 outsourcing institutions have been registered. In the past year, 60% of the outsourcing institutions that have passed the filing have expanded their business nationwide, and more than 80% of the outsourcing service institutions rated E have withdrawn from the market. The overall quality of the outsourcing service institutions has been effectively improved.
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