Daily Review: China Opens Its Payments Market for Foreign Competition

China’s two largest e-commerce companies (although very diversified) have a notoriously strong grip on the payments market. In an attempt to promote competition and best possible outcome for the end-user, China’s central bank takes steps towards creating a more inviting environment with lower barriers for entry for foreign third-party providers. It is unlikely that anyone will be able to shake the duopoly in the next few years, but the regulations can certainly contribute to certain harmonization and the emergence of new opportunities for start ...

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