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People’s Bank of China's New System to Certify 11 Types of Fintech Ware

Thursday, Oct 31 2019
News
Written by  FinTech News Brief Staff
People’s Bank of China's New System to Certify 11 Types of Fintech Ware

China’s central bank has set up a new system to certify fintech software and hardware products with respect to making digital payments. So reports Cointelegraph.

The State Ad­min­is­tra­tion for Mar­ket Reg­u­la­tion, along with the bank, created the Certification of Fintech Products system, which includes guidelines and definitions of what products need certification. Applicants must pass a prototype exam and an on-site inspection. Certificates are valid for three years.

Read the full story from Cointelegraph.

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