Payments Strategy for the Digital Age

The rise of digital payments is driving the transformation of the payment ecosystem, as transaction scenarios multiply and users demand greater efficiency, security, and speed. Globalization is also pushing central banks to connect with international card organizations and expand service coverage.
Some countries have outdated technical architectures that cannot meet the demands for real-time processing, multi-channel access, and high concurrency, while also facing regulatory compliance challenges. Central banks urgently need to build a new generation of payment infrastructure to meet market demands.

Key Initiatives
Build a new generation of instant
payment infrastructure

Adopt an advanced, open, and scalable technical architecture to construct a unified and efficient instant payment and clearing infrastructure with self-governed and controllable capabilities, and advance digital innovation.

Establish a Domestic Card
Scheme System

For markets with large populations and strong demand, build a Domestic Card Scheme System, issue local cards, create local card brands, and form card organizations to strengthen control over the value chain.

Formulate
payment standards

Develop unified technical and business standards, expand service coverage, foster the local payment industry, and support sustainable ecosystem growth.

Strategic Goals
Stimulate the market

Improve payment channels, enhance fund settlement efficiency, and optimize the Domestic Card Scheme to boost market transactions and drive economic growth.

Promote inclusive finance

Provide safe, efficient, and low-cost payment products to enable a broader range of social groups to enjoy equal financial services, alleviate development imbalances, and drive inclusive growth.

Strengthen regulatory compliance

Reinforce compliance for emerging digital payment models, build a fit-for-purpose compliance framework, and improve risk prevention, control, and supervision capabilities.

Best Practices for Central Bank Payment Solutions

As a world-leading provider of digital financial IT solutions, MuRong has established strong position in national-level payment and clearing, having successfully deployed multiple national-level instant payment systems and Domestic Card Scheme Systems. MuRong offers following best practices:

Core Solution Capabilities
Future-Oriented Technical Architecture

Delivers a highly available, highly secure, highly compatible, and scalable technical architecture with a comprehensive dispute resolution system.

Compliant with international standards and security specifications including EMV, ISO, and PCI-DSS. Equipped with an active-active deployment model across two sites and three centers, supporting 24/7

operation, with continuous technology upgrade capabilities.

Omni-Channel and Multi-Scenario Instant Payment Network

Build a national-level omnichannel payment platform covering all channels and supporting multiple payment methods including bank cards, QR codes, and NFC. Provides unified payment standards to meet the payment needs of banks, PSPs, MMOs, and other institutions.

Build a digital account service system: E-KYC simplifies the account opening process, supports full-scenario cashless transactions via e-wallets and card-free payments through digital accounts, lowers the threshold for financial services, delivers a convenient and secure payment experience, and extends inclusive finance to a broader population.

Provide standardized APIs: Enable seamless industry integration and partner onboarding, with deep coverage across retail, food and beverage, transportation, and government services. Delivers efficient, low-cost merchant acquiring services, particularly for micro, small, and medium-sized enterprises, to continuously drive market activity.

One-Stop Domestic Card Scheme System

An integrated card issuance system covering both physical and virtual cards, supporting end-to-end operational management and risk monitoring across card application, activation, transaction authorization, loss reporting, and cancellation.

Self-governed transaction switching compliant with international standards, delivering efficient and stable card transaction processing for partner institutions including banks, PSPs, and MMOs.

Full interconnection with international mainstream card organization systems, leveraging global network coverage to strengthen transaction processing capabilities and international service standards, delivering a convenient and reliable cardholder experience.

Standardized Clearing Services

Delivers unified, efficient, and flexible clearing and settlement services for banks, PSPs, MMOs, and other partner institutions. Standardized interfaces and automated processing mechanisms enable integrated clearing and reconciliation across all payment channels, support automatic netting and fund transfers between financial institutions, improve fund liquidity efficiency, and reduce operational, technology infrastructure, and labor costs.

Full-Process Risk Control Capabilities

A unified risk control system combining real-time monitoring and batch processing, leveraging data analytics, risk control engines, and predictive modeling to deliver end-to-end risk management covering anti-money laundering, anti-fraud, transaction monitoring, and audit trails. This ensures safe, compliant, and reliable business operations.

National-Level Regulatory Compliance System

Built on the national payment network, the system ensures all transactions are processed domestically with local data storage. Through end-to-end data monitoring, analysis, and regulatory early warning models, it provides regulators with comprehensive business insights and data visibility, strengthens oversight of emerging models such as fintech and digital payments, mitigates risks, and ensures compliant and well-governed operations.

Integrated Marketing and Operations Platform

Provides marketing tools and management functions covering brand promotion, marketing campaigns, and brand awareness initiatives to help build strong local payment brands. A unified operations and management platform enables process automation and standardization, reduces operational complexity across multiple participants, and improves overall operational efficiency and management effectiveness.

Best Practices for Central Bank Payment Solutions

As a world-leading provider of digital financial IT solutions, MuRong has established strong position in national-level payment and clearing, having successfully deployed multiple national-level instant payment systems and Domestic Card Scheme Systems. MuRong offers following best practices:

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Future-Oriented Technical Architecture

Delivers a highly available, highly secure, highly compatible, and scalable technical architecture with a comprehensive dispute resolution system.

Compliant with international standards and security specifications including EMV, ISO, and PCI-DSS. Equipped with an active-active deployment model across two sites and three centers, supporting 24/7

operation, with continuous technology upgrade capabilities.

Omni-Channel and Multi-Scenario Instant Payment Network

Build a national-level omnichannel payment platform covering all channels and supporting multiple payment methods including bank cards, QR codes, and NFC. Provides unified payment standards to meet the payment needs of banks, PSPs, MMOs, and other institutions.

Build a digital account service system: E-KYC simplifies the account opening process, supports full-scenario cashless transactions via e-wallets and card-free payments through digital accounts, lowers the threshold for financial services, delivers a convenient and secure payment experience, and extends inclusive finance to a broader population.

Provide standardized APIs: Enable seamless industry integration and partner onboarding, with deep coverage across retail, food and beverage, transportation, and government services. Delivers efficient, low-cost merchant acquiring services, particularly for micro, small, and medium-sized enterprises, to continuously drive market activity.

One-Stop Domestic Card Scheme System

An integrated card issuance system covering both physical and virtual cards, supporting end-to-end operational management and risk monitoring across card application, activation, transaction authorization, loss reporting, and cancellation.

Self-governed transaction switching compliant with international standards, delivering efficient and stable card transaction processing for partner institutions including banks, PSPs, and MMOs.

Full interconnection with international mainstream card organization systems, leveraging global network coverage to strengthen transaction processing capabilities and international service standards, delivering a convenient and reliable cardholder experience.

Standardized Clearing Services

Delivers unified, efficient, and flexible clearing and settlement services for banks, PSPs, MMOs, and other partner institutions. Standardized interfaces and automated processing mechanisms enable integrated clearing and reconciliation across all payment channels, support automatic netting and fund transfers between financial institutions, improve fund liquidity efficiency, and reduce operational, technology infrastructure, and labor costs.

Full-Process Risk Control Capabilities

A unified risk control system combining real-time monitoring and batch processing, leveraging data analytics, risk control engines, and predictive modeling to deliver end-to-end risk management covering anti-money laundering, anti-fraud, transaction monitoring, and audit trails. This ensures safe, compliant, and reliable business operations.

National-Level Regulatory Compliance System

Built on the national payment network, the system ensures all transactions are processed domestically with local data storage. Through end-to-end data monitoring, analysis, and regulatory early warning models, it provides regulators with comprehensive business insights and data visibility, strengthens oversight of emerging models such as fintech and digital payments, mitigates risks, and ensures compliant and well-governed operations.

Integrated Marketing and Operations Platform

Provides marketing tools and management functions covering brand promotion, marketing campaigns, and brand awareness initiatives to help build strong local payment brands. A unified operations and management platform enables process automation and standardization, reduces operational complexity across multiple participants, and improves overall operational efficiency and management effectiveness.

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Business Value
Accelerate Market Entry

Built on a modern central bank payment system, enables rapid onboarding of banks, PSPs, and MMOs, while reducing barriers to entry for micro, small, and medium-sized enterprises and individuals.

Empower Business Development

Supports agile innovation, simplifies payment processes, enables fast clearing and settlement, reduces enterprise operating costs, promotes cross-sector integration, and drives market activity.

Reduce Investment Costs

The payment system and local card issuance system operate under a shared, unified maintenance model. Small and medium-sized commercial banks do not need to build their own systems, eliminating the cost of duplicate infrastructure investment. Standardized APIs enable rapid integration and reduce the technical development and integration costs for partner institutions.

MuRong Related Products
This solution is powered by MuRong EPSS (Electronic Payment Switch System) and MuRong DCSS (Domestic Card Scheme System). Backed by a leading technical architecture and a comprehensive suite of functional modules, it enables efficient and seamless deployment of national-level instant payment systems and national card brand and operating systems.
MuRong EPSS (Electronic Payment Switch System) is built on a cloud-native, microservices architecture with elastic scalability. It handles transaction routing, clearing and settlement, dispute resolution, risk management, and value-added services. As a national-level payment and clearing financial infrastructure, it delivers omnichannel, multi-scenario transaction services for banks, PSPs, MMOs, and other participants.
Through open APIs and a robust payment network, it enables rapid onboarding of payment institutions and service providers, enhances connectivity, drives seamless collaboration across the payment ecosystem, and improves customer experience.
Explore MuRong EPSS
MuRong DCSS (Domestic Card Scheme System) is also built on a cloud-native, microservices architecture, consolidating card issuance, transaction routing, clearing and settlement, dispute processing, risk control, and value-added services into a single platform. It serves as an omnichannel, one-stop card business processing platform for banks, PSPs, MMOs, and other participating institutions, ensuring stable, secure, and convenient payment operations, connecting all industry participants, and boosting overall operational efficiency.
Fully compliant with EMV, ISO, and other international standards, it supports seamless interoperability with mainstream global payment networks and allows customization of country and region-specific standards, enabling rapid deployment of a self-governed, independently operated interbank payment and settlement infrastructure at the national or regional level.
Explore MuRong DCSS
Key Implementation Guarantees
Key Implementation
Guarantees
MuRong provides an end-to-end implementation framework, MDM (MuRong Delivery Methodology), covering full-lifecycle project management and delivery standards for every solution.
MDM establishes a phased data migration and business cutover mechanism, with a sharp focus on continuous operations, data synchronization, and go-live cutover. It follows a structured migrate, run in parallel, decommission model to ensure uninterrupted, secure business operations throughout the transition
Typical Cases
The People’s Bank of China
China Financial Information Technology (CFIT), a subsidiary of the People’s Bank of China (PBOC), oversees the operation and maintenance of the central bank’s information systems, networks, and data centre.
To strengthen support for the central bank’s core operations, MuRong designed and delivered a tailored implementation solution for CFIT, successfully deploying a series of critical central bank systems including CIPS (Cross-Border Interbank Payment System), UCAM (National Unified Account Management System), and PIRS (National Payment Institution Regulatory System).
As of September 2025, CIPS had 176 direct participants and 1,552 indirect participants. By November 2023, its cumulative transaction volume had reached 411.9 trillion yuan.
NetsUnion Clearing Corporation
NetsUnion Clearing Corporation (NUCC) is a state-owned enterprise wholly under the oversight of the People’s Bank of China and the world’s largest non-bank payment clearing institution. It operates the national unified clearing system and enables single-point connectivity between non-bank payment institutions and commercial banks.
The rapid growth of mobile payments and digital commerce drove a sharp expansion in electronic payment transaction volumes, placing significant strain on NUCC’s clearing system. In response, MuRong leveraged MuRong EPSS to upgrade NUCC’s core modules, including account management, transaction processing, clearing and reconciliation, risk management, and value-added services, seamlessly integrating banks, PSPs, MMOs, and other payment institutions into the platform.
In recent years, backed by MuRong’s technical support, transaction volumes on NUCC’s core clearing system have consistently set new records. By 2023, the system processed an annual online payment transaction value of 450 trillion yuan, with a daily transaction count exceeding 1.5 billion.
NetsUnion Clearing Corporation
Shanghai Clearing House is the sole central counterparty clearing institution in China’s interbank market and one of the three leading bond registration and custody institutions in the country.
Drawing on its proven solutions and technology, MuRong designed and successfully delivered a new generation bond issuance bidding system for Shanghai Clearing House. The system fully supports Dutch, American, and hybrid auction methods, and accommodates complex business models including initial auctions, supplementary auctions, flexible bidding, and bond tap issuance. A cockpit-style dashboard provides real-time visibility and control over market-wide auction status throughout the issuance process.
Since its launch, the system has run without interruption for over 10 years, facilitating cumulative bond issuance of more than 2.8 trillion yuan.
NIBSS
AfriGo is a national card scheme in Nigeria and Africa’s first homegrown bank card brand, established by the Central Bank of Nigeria (CBN) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS). AfriGo is connected to the clearing networks of major international card schemes including Visa, Mastercard, JCB, and China UnionPay.
Leveraging MuRong DCSS and MuRong EPSS, MuRong designed and delivered the end-to-end solution for AfriGo. Since going live, the platform has seamlessly integrated banks, PSPs, MMOs, and other payment institutions, encompassing core functions including card issuance, payment routing, clearing and settlement, and dispute processing.
To date, with MuRong’s support, AfriGo has reached over 200 million users, 50-plus partner institutions, more than 12 million POS terminals, and over 20 million bank cards issued.
Typical Cases
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The People’s Bank of China
China Financial Information Technology (CFIT), a subsidiary of the People’s Bank of China (PBOC), oversees the operation and maintenance of the central bank’s information systems, networks, and data centre.
To strengthen support for the central bank’s core operations, MuRong designed and delivered a tailored implementation solution for CFIT, successfully deploying a series of critical central bank systems including CIPS (Cross-Border Interbank Payment System), UCAM (National Unified Account Management System), and PIRS (National Payment Institution Regulatory System).
As of September 2025, CIPS had 176 direct participants and 1,552 indirect participants. By November 2023, its cumulative transaction volume had reached 411.9 trillion yuan.
NetsUnion Clearing Corporation
NetsUnion Clearing Corporation (NUCC) is a state-owned enterprise wholly under the oversight of the People’s Bank of China and the world’s largest non-bank payment clearing institution. It operates the national unified clearing system and enables single-point connectivity between non-bank payment institutions and commercial banks.
The rapid growth of mobile payments and digital commerce drove a sharp expansion in electronic payment transaction volumes, placing significant strain on NUCC’s clearing system. In response, MuRong leveraged MuRong EPSS to upgrade NUCC’s core modules, including account management, transaction processing, clearing and reconciliation, risk management, and value-added services, seamlessly integrating banks, PSPs, MMOs, and other payment institutions into the platform.
In recent years, backed by MuRong’s technical support, transaction volumes on NUCC’s core clearing system have consistently set new records. By 2023, the system processed an annual online payment transaction value of 450 trillion yuan, with a daily transaction count exceeding 1.5 billion.
NetsUnion Clearing Corporation
Shanghai Clearing House is the sole central counterparty clearing institution in China’s interbank market and one of the three leading bond registration and custody institutions in the country.
Drawing on its proven solutions and technology, MuRong designed and successfully delivered a new generation bond issuance bidding system for Shanghai Clearing House. The system fully supports Dutch, American, and hybrid auction methods, and accommodates complex business models including initial auctions, supplementary auctions, flexible bidding, and bond tap issuance. A cockpit-style dashboard provides real-time visibility and control over market-wide auction status throughout the issuance process.
Since its launch, the system has run without interruption for over 10 years, facilitating cumulative bond issuance of more than 2.8 trillion yuan.
NIBSS
AfriGo is a national card scheme in Nigeria and Africa’s first homegrown bank card brand, established by the Central Bank of Nigeria (CBN) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS). AfriGo is connected to the clearing networks of major international card schemes including Visa, Mastercard, JCB, and China UnionPay.
Leveraging MuRong DCSS and MuRong EPSS, MuRong designed and delivered the end-to-end solution for AfriGo. Since going live, the platform has seamlessly integrated banks, PSPs, MMOs, and other payment institutions, encompassing core functions including card issuance, payment routing, clearing and settlement, and dispute processing.
To date, with MuRong’s support, AfriGo has reached over 200 million users, 50-plus partner institutions, more than 12 million POS terminals, and over 20 million bank cards issued.
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