NUCC- Nets Union Clearning Corporation

NetsUnion Clearing Corporation (NUCC) (网联清算有限公司) is the operator of China’s nationwide centralised platform for the processing of online transactions undertaken by the country’s third party payments providers involving bank accounts.

（网联清算有限公司）是中国全国集中平台的运营商，该平台用于处理由涉及银行账户的国家第三方支付提供商进行的在线交易。

NetsUnion was established by the Payment and Clearing Association of China (PCAC)  (中国支付清算协会) and is subject to the supervision and regulation of the People’s Bank of China (PBOC).

The company has registered capital of 2 billion yuan.and is 37% owned by 7 subordinate entities of PBOC including China National Clearing Center (中国人民银行清算总中心), Shanghai Clearing House (上海清算所) and Shanghai Gold Exchange (上海黄金交易所).

Chinese payment giants Alipay and Tenpay also each hold equity stakes of 9.61% in Netsunion.

NetsUnion is responsible for operating China’s Non-bank Payment Organisation Internet Payments and Clearing Platform (非银行支付机构网络支付清算平台), which is the nationw