What Is an Electronic Money Order?

Electronic commercial bills, also known as electronic bills, are bills produced by the drawer in the form of data messages, entrusting the payer to pay a certain amount to the payee or bearer unconditionally on a specified date. .

Electronic money order

With the expansion of bank supply chain financial services, electronic

Electronic money order functions are mainly provided by

Electronic Money Orders-Buyers Financing New Beacons

The increasing business volume of customers in China has made it increasingly important for them to achieve simpler and faster collection of receivable funds with their dealers. Customers want to improve the current paper buyer financing solutions through banks To release cash flow in accounts receivable. In practice, it is not difficult to find that shortening the period of accounts receivable is the key point of customer trade financing.

1. Speed up capital turnover and improve settlement efficiency;

2. Reduce payment risks and ensure the safety of funds;

3. Break through paper ticket quotas and "multiply" financing benefits;

Fourth, remove the barriers to circulation and save transaction costs.

In 1993, the People's Bank of China formulated the "Commercial Draft Measures"

Since 2000, China's commercial bill market has expanded rapidly.

From 2005 to 2006, core enterprises in the home appliance and steel industries raised the demand for electronic bills based on convenient circulation and group management purposes. Commercial banks responded positively, with China Merchants Bank and Minsheng Bank launching e-ticket businesses to meet corporate needs.

From 2007 to 2008, the rise of SME supply chain financial services, the huge market demand and the pressure of market competition forced various commercial banks to launch electronic bill business.

In 2008, the People's Bank of China approved the ECDS project.

In 2009, the People's Bank of China ECDS went online.