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Finance Fintech

Over Half a Billion Chinese Made Mobile Payments in 2017

A new report points to ongoing growth in both the number of China’s internet users and the size of the country’s mobile payments market.

Categories
Economy Fintech

Third Party Payments Sector Faces Reshuffle as Regulators Step up Pressure

China’s third party payments sector is expected to undergo a major reshuffle as new restrictions come into play and financial regulators step up their scrutiny.

Categories
Banking Finance

We Can’t Expect Market Entities to Be Socially Responsible: PBOC on Payments Sector

The Chinese central bank has flagged further tight control of the payments and settlements sector alongside a strong emphasis upon security.

Categories
Finance

PBOC Puts Pressure on Third Party Payments with over 30 Fines in 2018

The Chinese central bank is stepping up the pressure on the country’s third party payments providers in 2018, after first beginning to scrutinise the sector two years ago.

Categories
Economy Finance

Third Party Payments Provider Dinpay Hit with 41.52 million Yuan in Penalties

Online Chinese payments company Dinpay has been hit with more than 41 million yuan in fines over infractions involving offshore gold and forex transactions.

Categories
Banking Finance

PBOC Warns Payments Giants They’re Not Too Big for Regulation

The Chinese central bank has issued a stern warning to the country’s payments giants against using their exorbitant scale to flout government regulations in relation to barcode-based technology and user security.