People's Bank of China Releases Draft Rules for Multi-Purpose Prepaid Card Business on July 25

According to the People's Bank of China, the central bank released a draft regulatory framework governing multi-purpose prepaid card operations for public comment on July 25. The framework, titled the Management Measures for Type II Stored-Value Account Operations, sets standards for non-bank payment institutions that issue these cards across regions and industries.

The draft regulation covers transparency, fund safety, information protection, and accountability requirements. Multi-purpose prepaid cards complement traditional payment methods in retail, dining, transportation, and commercial district environments. The feedback deadline is August 8, 2026.