Right to Spend: China’s New Draft Online Payment Regulation
2 December 2015
Hong Kong Lawyer
Xiaoyan Zhang shares her thoughts in an article for Hong Kong Lawyer, on the PBoC’s draft proposal to limit the role of third-party payment providers in China.
China has more than 250 licensed online payment providers in a market that was worth RMB 8 trillion in 2014. If the proposed regulation is enforced, Xiaoyan predicts that this could spell the demise of the smaller online payment players.