The High Value Payment System was put into trial operation on October 8, 2002, and was rolled out nationwide on June 24, 2005. The system primarily processes local and inter-city high-value credit transfer transactions as well as urgent small-value credit transfers. High-value payment instructions are sent in real time on a transaction-by-transaction basis and settled in full. It provides fast, efficient, safe, and reliable payment and settlement services mainly for banking financial institutions and financial markets, and serves as an important financial infrastructure that supports the implementation of monetary policy and helps maintain financial stability.

The second-generation payment system was successfully launched on October 8, 2013, and was fully rolled out nationwide by the end of April 2015.

The Bulk Electronic Payment System (BEPS) commenced pilot operation on November 28, 2005, and was rolled out nationwide on June 26, 2006. The system primarily processes intra-city and inter-city debit payment transactions involving truncated paper instruments, as well as small-value credit payment transactions below a specified amount threshold. Payment instructions are sent in batches, and funds are settled through netting. It primarily provides the public with low-cost, high-volume payment and settlement services.

The China Foreign Exchange Payment System (CFXPS) was launched on April 28, 2008. With the Clearing Processing Center at its core, the system is accessed centrally by single legal entities such as direct participants, and inter-bank foreign currency fund settlement is conducted by agent settlement banks. The CNCC is responsible for receiving, storing, sorting, and forwarding foreign currency payment instructions. After conducting real-time clearing of participants' payment instructions on a transaction-by-transaction basis, it submits settlement instructions to settlement banks for settlement by currency and in batches.

Settlement banks are commercial banks designated or authorized by the People's Bank of China (PBOC). They open foreign currency settlement accounts for direct participants and are responsible for the foreign currency fund settlement between direct participants.

Currently, it offers payment services for 8 currencies: HKD, GBP, EUR, JPY, CAD, AUD, CHF, and USD. This meets the domestic demand for multi-currency payments and improves settlement efficiency and information security.

As a core business subsystem of the second-generation payment system, the Internet Bank Payment System (IBPS) was initially launched on August 30, 2010, and rolled out nationwide on January 24, 2011. It primarily supports interbank (and intra-bank) fund transfer processing for emerging electronic payment services such as online payments.

The system adopts a real-time transmission and response mechanism, enabling it to process interbank payments, interbank account information inquiries, and online signing, among other services. Through the online banking platforms of commercial banks, customers can conveniently handle various interbank transactions without leaving their homes and receive real-time updates on the final processing status of their transactions.