China new mobile payment rules to target cross-border gambling -Nikkei Asia
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Central bank to push firms to differentiate 'individual' and 'merchant' bar codes
Alipay and WeChat Pay could be hard hit if the new rules from the PBOC are strictly enforced. © AP
China's central bank has issued new regulations for the multitrillion-dollar payment sector in a bid to improve risk control and stamp out crimes like cross-border gambling that illegally uses payment bar codes to transfer funds.
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