Rules Governing the Administration of Electronic Payment Business Article 22

An electronic payment institution may request a contracted institution to set aside a refund reserve into a dedicated deposit account of the electronic payment institution.When an electronic payment institution returns the payment funds received from a user in accordance with the preceding article, it shall make refunds from the balance of the e-payment account of the contracted institution, or the balance of the payment collected and paid that has not been allocated to the contracted institution first. Where there is not sufficient balance available, it may process the refund within the said reserve under the preceding paragraph.An electronic payment institution may take the amount in payments collected and made for real transactions as an agent, payment request cycle, average price of every single product or service provided, and frequency of past refund applications of the contracted institution for reference, and evaluate an appropriate amount of the refund reserve to be set aside by a contracted institution.