China's non-bank payment service providers are optimistic about the central bank's move to regulate the industry, the Century Weekly reported Monday.

The People's Bank of China (PBOC) said last week that non-bank payment service providers would need a license to conduct third party payment transactions in China.

As of the end of the first quarter, a total of 260 non-bank companies had submitted applications to the PBOC for payment service operations.

Among them, Alipay, China's largest online payment company, had a 52 percent share of the online payment market in 2009. Tenpay ranked second by seizing 24.7 percent of the market, according to Analysys, an online industry information firm.

However, companies are still waiting for the PBOC to clarify certain rules, such as whether they can use customers' prepayment for investment, and which party would be allowed to take the interest income from the prepayment.

(chinadaily.com.cn June 28, 2010)