Saturday, January 23, 2021
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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Users of Everbright’s Cloud-Driven Utilities Payment Platform Exceeded Half a Billion in 2020

China Everbright Bank has seen users of its cloud-based utilities payments service surge in 2020, as the COVID-19 pandemic drove sharp gains...

China Unlikely to See Real Estate Loan Rates Decline in 2021 as LPR Holds Steady for Ninth Month Straight

Domestic analysts say that Chinese banks are unlikely to significantly reduce rates for real estate loans in 2021, as regulators continue to...

Chinese Central Bank Unveils Anti-Trust Measures Permitting Break up of Third-Party Payments Platforms

The People's Bank of China (PBOC) will have the power to recommend the dismantling of third party payments platforms under new measures...

Pinduoduo Owner Applies for Payments Trademark

A major shareholder in NASDAQ-listed agricommerce platform Pinduoduo has applied with Chinese authorities to register a Pinduoduo-related payments trademark.