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Online Payment in China
China will pilot a Certificate Authority Center (CAC) for online payment by the end of this month for trial operation.
The People's Bank of China (PBOC) and 13 commercial banks in the country will join hands in establishing the Center, said Chen Jing, section chief of PBOC at an international forum on E-business recently in Tianjin.
The Center will offer solutions to the security of online settlements by granting security certificates to online traders.
Chen said that unsafe online payment severely restricts the development of E-commerce in China.
The Third International e-business Forum was sponsored by the Tianjin Municipal People's Government, the US Cyber Century Forum and other organizations. The two-day event discussed the future of E-business, international cooperation, and E-business solutions for small and medium companies.
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