What is the difference between CBiBank and a payment company?
2023-05-04
- From the perspective of financial functions: banks are the institutional layer and the underlying cornerstone of the whole financial industry; payment platforms are the business layer, which is the extension of the next level of business layer under the institutional layer of banks, and the operation of payment platforms needs the support of banking institutions.
CBiBank is a commercial bank registered in the U.S. and has an independent financial business ecology with unique independent advantages in customer audit, service upgrade and technology innovation.
2. We are a bank with proper license issued by the U.S. financial regulation. The regulatory requirements for banks are much higher than those for payment companies. Payment companies can only do transfer and remittance business, and customers’ funds cannot be deposited in payment companies for a long time, while banks can.
3. The bank has Ukey for online banking, but the payment company does not.