B2C - Business to Customer [Payroll]
| Supported Modes | B2C (Payroll) |
| Supported Currencies | CNY |
| Network Participant | UnionPay |
| Channels | Major banks in China |
| Cutoff for Initiating Payout | No cut off |
| Mandatory Data Requirements for Merchant / Entity | Payer Full Name (Company Name), Nationality |
| Mandatory Data Requirements for Beneficiary | Chinese Name, Chinese ID (National Identification Number), Phone Number, Account holder Name (as per the bank account), Account number |
| Supporting Documents | NA |
| Beneficiary Statement Narrative | Ultimate Remitter |
| Limits | 50k CNY / *Maximum 5 transactions allowed to same beneficiary in a month / 600K CNY Annually |
| Settlement Time | Real time |
| Rail Availability | 24*7 |
| Allowed Purpose Codes | PYR010 |
| Employer Onboarding | Required at the time of employer whitelisting. 2–3 employment contracts with the employees are needed to get the employer whitelisted. |
C2C - Customer to Customer [Self, Family Support]
| Supported Modes | C2C |
| Supported Currencies | CNY |
| Network Participant | UnionPay |
| Channels | Major banks in China |
| Cutoff for Initiating Payout | No cut off |
| Mandatory Data Requirements for Merchant / Entity | Source of Funds, First Name, Last Name, Nationality, ID type, ID number, ID expiry Date, ID issue date, ID country, Gender, Phone number, Date of Birth, Profession, Address |
| Mandatory Data Requirements for Beneficiary | Chinese Full Name, Chinese ID (National Identification Number), Phone Number, Chinese Account holder Name (as per the bank account), Account number, Address |
| Supporting Documents | NA |
| Beneficiary Statement Narrative | Ultimate Remitter (passed in the reference field but not guaranteed) |
| Limits | 50K CNY / *Maximum 5 transactions allowed to same beneficiary in a month / 600K CNY Annually |
| Settlement Time | Real time |
| Rail Availability | 24*7 |
| Allowed Purpose Codes | PYR030, PYR035 |