third party payments

Jan

Another step to tighten the control on third party payment companies in China

Last Friday, the People’s Bank of China (PBOC), China’s central bank, issued a new notice for the third party payment companies which will be enacted on April 17th, 2017 and will require the payment companies to deposit around 20% of the held customer fund to specified general bank accounts.

Dec

China Payments Research

Wang’Lian, the new clearing house for digital payments in China

Since the start of this year, there have been many news about the set up of “Wang’Lian”, which means Non Bank Internet Payment Union, in China.

Dec

China Payments Research

The Internet Banking Union may help you transfer money from Alipay to Wechat pay

This week, the Internet Banking Union (IBU) was approved by China’s central bank the People’s Bank of China (PBOC) thus creating a ‘Digital Union Pay’ that may bring cross-platform interoperability to digital payment platforms including Alipay and WeChat Pay. The platform is expected to launch by the end of the…

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third party payments