答复: 回复： 回复： adding new use cases

In China, almost all the escrow service providers use some of users' funds of provision account for investment, and this is the one of escrow's most important profit mode. These money earned by investment will belong to escrow service providers. However, the percentage of provision account which escrow can use for investment is strictly controlled by PBOC(The People's Bank Of China). Chinese escrow service provider's and payer's rights and responsibilities are standardized in several different documents for different fields, such as the link of document I just sent you yesterday is the responsibilities of Chinese escrow service providers in provision management field.




-----邮件原件-----
发件人: Manu Sporny [mailto:msporny@digitalbazaar.com] 
发送时间: 2015年7月15日 10:38
收件人: public-webpayments-ig@w3.org
主题: Re: 回复： 回复： adding new use cases

On 07/14/2015 11:15 AM, 孙倩(雪迪) wrote:
> Because the virtual account is provided by escrow, the money is 
> transferred to escrow's account which called user's provision account. 
> The funds in provision account is  under escrow's control actually, 
> however the funds belong to user.

I understand now, thank you. I have added this use case to the document:

https://github.com/w3c/webpayments-ig/commit/a46b942d7cfb41957fd0d070052234f4b30c3155

I'm curious as to how this is different from the way that PayPal operates for US citizens? In that case, I believe that US Consumer Protection laws state that the person moving the money from their US bank account to their PayPal account still owns the funds and PayPal is limited in what they can do with the funds.

Is it that there are a very large number of escrow service providers in China and therefore the rules of how money is moved and used needs to be standardized in China (because some providers are not clear about how the funds can be used)?

Or is it that a Chinese escrow service provider must provide all interest made on the customer's deposits back to the customer?

Do you have an example list of rights and responsibilities for both the Chinese escrow service provider as well as the payer? The link you sent to the explanation of the provision account was very helpful. Feel free to link to something else that answers these questions even if it is not in English.

-- manu

--
Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny) Founder/CEO - Digital Bazaar, Inc.
blog: Web Payments: The Architect, the Sage, and the Moral Voice https://manu.sporny.org/2015/payments-collaboration/

Received on Wednesday, 15 July 2015 06:44:40 UTC