Sunday, October 25, 2020
Tags Chinese payments sector

Tag: Chinese payments sector

China’s Peak Payments Body Outlines 8 Targeted Forms of Illegal Conduct in 2020

The Payment & Clearing Association of China (PCAC) issued its "2020 Payments and Settlement Illegal and Illicit Conduct Key Reporting Items" (2020年支付结算违法违规行为重点举报事项的公告)...

PayPal’s China Entry Expected to Shake up Mobile Payments Market

The entry of payments giant PayPal into the Chinese market is expected to further winnow out smaller players in the sector.

Payment & Clearing Association of China Launches Data Reporting and Sharing System for Members

The Payment & Clearing Association of China (PCAC) has announced the official launch of a new system for collecting data on the...

Chinese Mobile Payments Surge 61.19% YoY in 2018: PBOC Report

A new report from the Chinese central bank on the domestic payments sector points to surging growth in mobile payments in 2018....

Reserve Funds of Third Party Payments Providers Drop Following Centralised Management by PBOC

The reserve funds of China's third party payments provider have seen a sharp decline after coming under centralised management by the People's...

Chinese Central Bank Hits 10 Payments Companies with 1.02M Yuan in Fines

The People's Bank of China (PBOC) is keeping up the pressure on the Chinese payments sector with the issuance of fines worth more than...

Regulation of Chinese Payments on Track to Intensify: PBOC Vice-governor Fan Yifei

A senior official from the Chinese central bank has flagged the normalisation of stricter regulation of the payments sector in future. "The normalisation of strict...

Nine Chinese Payments Providers Summoned to Discuss Regulatory Breaches and Risk Issues

The Payment & Clearing Association of China (PCAC) has summoned nine of the country's payments companies to discuss potential regulatory breaches and risk issues. From...

Chinese Central Bank Continues to Hit Payments Sector with Hefty Fines

The People's Bank of China (PBOC) is keeping up the pressure on the country's payments sector with the issuance of a hefty fine to...

Alipay Teams up with UnionPay as Beijing Cuts Ties Between Payments Sector and Banks

The world's largest mobile payments platform and the world's largest card payment organisation have entered a new cooperative partnership. Alipay and China UnionPay have executed...

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Fintech Giant Lufax Pursues USD$2.36 Billion Stateside IPO

Chinese fintech giant Lufax has revealed more details on its plans to pursue an initial public offering (IPO) in the US despite...

China to Increase Qualified Domestic Institutional Investor Quota by around USD$10 Billion

China's forex administration has announced a further increase to the foreign investment quota for qualified domestic institutional investors (QDII).

Zhou Xiaochuan Weighs in on Internationalisation of the Renminbi at 2020 Financial Street Forum

Zhou Xiaochuan, the former head of the Chinese central bank, has voiced his opinions on the near-term prospects for the internationalisation of...

PBOC Launches Fintech Research Centre, Calls for “Comprehensive Increase” in China’s Fintech Competitiveness and Influence

A senior official from the People's Bank of China (PBOC) has called for the country to further drive efforts for the development...