Chapter 4 Retention of Data Obtained in Identity Verification Process and Necessary Transaction Records
Article 23
An electronic payment institution shall retain the data obtained in users and contracted institutions identity verification process and relevant records on carrying out the users and contracted institutions identity verification; the preceding provision applies when users and contracted institutions change their identity information.
Article 24
An electronic payment institution shall retain the following necessary transaction records of users:
1. For the business of collecting and making payments for real transactions as an agent: records retained on the types, account numbers or card numbers of payors’ payment instruments, amount, types of the payment currency and time of making payment, e-payment account numbers or stored value card numbers of payors and recipients, information for the identification of the contracted institutions, transaction services fees and related transaction results; in the cases of refunds, records retained on methods, amount, types of currency, time of making refund, and types, account numbers or card numbers of payment instruments used for making refund payment and the related transaction results.
2. For the business of accepting deposits of funds as stored value funds: Records retained on deposit methods, e-payment account numbers or stored value card numbers receiving the deposit, amount, types of currency and time of making deposit, transaction services fees and related transaction results.
3. For the business of small-amount domestic and international remittances: Records retained on the users’ e-payment account numbers, amount, types of currency and time of making remittances, transaction services fees and related transaction results.
4. For withdrawal of funds from e-payment account: Records retained on the e-payment account number from which the fund is withdrawn, the account number of the user’s same-currency financial institution deposit account which the fund is transferred into, amount, types of currency and time of making withdrawal, transaction services fees and related transaction results.
Electronic payment institutions shall retain the log files of necessary transaction records prescribed in the preceding paragraph for at least five years, and ensure their veracity and completeness to facilitate account examination and reconciliation.