China · Account Transfer · Est. 2010
China's Internet Banking Payment System processes 24/7 interbank transfers across the country's massive banking network, operated by the China National Clearing Center (CNCC) under the People's Bank of China. IBPS handles both small-value real-time payments and bulk transfers, complementing the HVPS (high-value) and BEPS (bulk) systems. With China's 1.4B population and rapidly digitising economy, IBPS is one of the highest-volume payment systems globally, supporting online banking, mobile payments, and cross-bank settlement.
IBPS is China’s real-time payment system (Account Transfer), launched in 2010. Chinas Internet Banking Payment System processes 24/7 interbank transfers across the countrys massive banking network, operated by the China National Clearing Center (CNCC) under the Peoples Bank of China.
IBPS processed 17.0 billion transactions worth $39.3tn in 2025, a year-on-year change of +2.3%.
IBPS is operated by PBC, with near-instant settlement.
IBPS launched in 2010, and today has 300 participating institutions.
IBPS is primarily an account-to-account transfer system.
Data source: PBC.
| Capability | Status |
|---|---|
| QR Code Payments | — |
| Wallet Support | — |
| 24/7 Availability | ✓ |
| Cross-Border | — |
| ISO 20022 | — |
| Request to Pay | — |
| Open API | — |
| Alias/Proxy | — |