Chinese Central Bank Calls for Expansion of Mobile Phone Number Payments

The Shanghai office of the People’s Bank of China (PBOC) has called for the increased use of mobile phone numbers for payments purposes.

The 2020 Shanghai payments and settlements work meeting recently convened by PBOC’s Shanghai office called for a slew of measures moving ahead including:

• Promotion of “mobile phone number payments,” and cross-bank verification platforms,
• Continual improvements to the secure operation of the payments and settlements system in Shanghai
• Strengthening operation expansion and upgrading service levels.

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