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Wednesday, November 25, 2020
Tags Chinese third party payments

Tag: Chinese third party payments

China’s Central Bank Digital Currency Likely to Co-exist with Third Party Payments over the Long Haul

A leading blockchain expert says that there is room for China's new central bank digital currency (CBDC) to co-exist alongside established third...

Will China’s Central Bank Digital Currency Threaten Alipay and WeChat Pay?

China's plans for the launch of central bank digital currency (CBDC) have created concerns that the position of digital payments giants Alipay...

Chinese Central Bank Issues Record 59.3M Yuan Fine to Third Party Payments Provider in Shanghai

The Shanghai branch of the People's Bank of China (PBOC) has just dispensed the largest ever administrative penalty imposed upon a third...

Chinese Third Party Payment Transactions Approach 60 Trillion Yuan in First Quarter

Third party payments transactions in China neared the 60 trillion yuan threshold in the first quarter of 2019 according to a new...

Third Party Payments Providers Focus on Micro-retailers, Cross-border Transactions

China's third party payments providers are increasingly focusing upon micro-retailers and cross-border transactions as key growth areas. China is currently host to over 6 million...

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...

China’s Third Party Payments Sector Sees Boom in Cross-border Transactions

China's third party payments sector has seen a surge in the volume of cross-border transactions, with industry observers expecting robust growth going ahead as...

Ant Financial and Tencent Stand to Lose $1 Billion in Revenue Under New Reserve Requirements

China's two leading mobile payments companies are expected to collectively lose approximately USD$1 billion in annual revenue following the launch of new customer deposit...

Third Party Payments Sector on Track for Reshuffle After Severing Direct Ties with Banks

Heightened scrutiny by regulators is putting China's third party providers under heavy cost pressure that will compel them to raise fees as well as...

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...

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China Construction Bank Withdraws from Digital Bond Issuance Due to “Over-excitement” in Cryptocurrency Circles

One of China's big six state-owned banks has withdrawn from plans to issue digital bonds in collaboration with a digital assets exchange...

China’s Banking Authority Steps up Regulation of Trust Company Shareholders, Corporate Governance

The China Banking and Insurance Regulatory Commission (CBIRC) has issued new regulations concerning the shareholders and corporate governance of domestic trust companies....

Ant Group Grabs Approval for over $3 Billion in ABS Financing for Huabei and Jiebei Platforms

Chinese fintech giant Ant Group has just secured approval for 20 billion yuan (approx. USD$3.04 billion) in asset-backed security (ABS) financing.

Suzhou to Hold Digital Renminbi Lottery During Double 12 Shopping Festival, Test “Dual Offline” Functionality

The Jiangsu province city of Suzhou plans to conduct digital renminbi lottery trials during this year's Double 12 Shopping Festival, following the...