Legal basis:
Measures for the supervision and administration of credit card business of commercial banks
Article 19 In addition to the conditions stipulated in Article 17, a commercial bank shall also meet the following conditions when operating the credit card acquiring business: (1) The registered capital is paid-in capital, and it shall not be less than RMB 654.38 billion or its equivalent in a freely convertible currency; (2) Having a good business foundation to carry out acquiring business. In the last three years, the scale and structure of enterprise loan business are stable, the scale and structure of enterprise loan customers are relatively stable, and the connection and use of identity document verification system and credit information system are good; (3) It has the support of professional acquiring business system, and has established professional operating infrastructures in China, such as acquiring business mainframe, special merchant application management system, special merchant credit evaluation management system, merchant settlement account management system, accounting management system, acquiring transaction monitoring and counterfeit transaction early warning system, and transaction authorization system. The relevant facilities have passed the necessary security inspection and business test, which can guarantee the integrity and security of customer data and business data; (4) It conforms to the overall business strategy and development plan of the commercial bank, is conducive to improving business competitiveness, and can continuously carry out business cost measurement, business scale monitoring and basic break-even calculation according to the actual situation of business development.
Article 20 The issuance and receipt of cards by commercial banks shall be reported to the China Banking Regulatory Commission and its dispatched offices for examination and approval according to the prescribed procedures. When a national commercial bank applies for credit card business, its head office (company) shall apply to China Banking Regulatory Commission for approval. In accordance with the relevant regulations, commercial banks that can only engage in business activities in specific cities or regions apply for credit card business, and their head offices (companies) apply to the dispatched offices of the CBRC in their places of registration. After the preliminary examination, the dispatched office of the CBRC in China, where it is registered, shall be submitted to the CBRC in China for approval. A foreign-funded corporate bank applying for credit card business shall submit an application to the dispatched office of the China Banking Regulatory Commission in its place of registration, which shall be submitted to the China Banking Regulatory Commission for approval after preliminary examination by the dispatched office of the China Banking Regulatory Commission in its place of registration.