China’s New Online Payment Regulation Creates Concern for Third-Party Payment Providers

China's central bank released a draft regulation that could limit transactions with third-party payment providers like Alipay to as little as 1,000 yuan (US $160). This move may wipe out smaller firms and force people to use state-owned bank services.

On Friday, the proposed regulation was announced that could greatly affect China's 8 trillion yuan (US $1.28 trillion) third-party online and mobile payments marketplace.

Third-party payment services that have two or more security mea ...

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