In order to promote the development of artificial intelligence technology safety standards in the payment clearing industry, prevent security risks in technology applications, and protect the legitimate rights and interests of consumers, the China Payment Clearing Association organized and formulated the “Self-Regulatory Convention for Smart Payment Applications” and widely solicited opinions from member organizations. It was reviewed and approved by the 2nd meeting of the 5th Executive Council of the Association, and is now being issued and implemented. According to the Convention, where smart payment applications involve core aspects of payment services such as account management, transaction processing, and fund settlement, related services should be carried out by licensed institutions such as banking financial institutions, non-bank payment institutions, and clearing institutions. Member units shall bear the main responsibility for the security of users' accounts and transactions, financial security, information security, etc. in accordance with the principle of “who provides payment services and who is responsible”.

In order to promote the development of artificial intelligence technology safety standards in the payment clearing industry, prevent security risks in technology applications, and protect the legitimate rights and interests of consumers, the China Payment Clearing Association organized and formulated the “Self-Regulatory Convention for Smart Payment Applications” and widely solicited opinions from member organizations. It was reviewed and approved by the 2nd meeting of the 5th Executive Council of the Association, and is now being issued and implemented. According to the Convention, where smart payment applications involve core aspects of payment services such as account management, transaction processing, and fund settlement, related services should be carried out by licensed institutions such as banking financial institutions, non-bank payment institutions, and clearing institutions. Member units shall bear the main responsibility for the security of users' accounts and transactions, financial security, information security, etc. in accordance with the principle of “who provides payment services and who is responsible”.