Etc's arrears will affect the credit for 30 days
China has a population of nearly 1.4 billion and holds 250 million cars, of which 190 million cars will be installed with etc by the end of this year. On November 18, the central bank and the China Banking and Insurance Regulatory Commission recently released the guidance on financial services supporting the reform of toll road system, which said that we should promote the construction of manual toll lanes that have not yet supported mobile payment, and strive to support mobile payment products in all manual toll lanes by the end of 2019.
The opinion points out that etc's arrears exceeding 30 days will be reported to personal credit investigation. Specifically, commercial banks and non bank payment institutions are supported to submit the user information that is still in arrears for more than 30 days from the toll payment transaction date to the basic financial credit information database on the premise of obtaining the authorization of the information subject and performing the obligation of disclosure, and the information retention period shall be implemented in accordance with the relevant provisions of the regulations on the administration of credit investigation industry.