Date
21 September 2017

Alipay, Tencent virtual credit cards suspended, paper says

The People’s Bank of China has suspended the use of virtual credit cards and barcode payment by Alipay and Tencent Holdings Ltd. (00700.HK), 21st Century Business Herald reported Friday. The central bank made the move over concerns about data security and consumer protection. Meanwhile, China CITIC Bank Corp. Ltd. (00998.HK, 601998.CN), which has announced plans to launch virtual credit cards with Alipay and Tencent, said it has yet to receive an order from the central bank, according to the report.

– Contact HKEJ at [email protected]

EL/AC/RA

 

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