Since this June, when the central bank released the "Administrative Measures for Payment Services by Non-financial Institutions" (hereinafter referred to as the Measures), the Measures were officially enforced on September 1. The Measures stipulate that without approval from the central bank, no non-financial institution or individual may engage in, or covertly engage in, payment services. This means that third-party payment enterprises must complete their transformation from "Internet-based" to "finance-based".