China moves to open up mobile payments services

News in brief

News in brief

People’s Bank of China has proposed new regulations that could force internet companies Alibaba, Tencent and Baidu to offer each others’ online payment services alongside their own. “If payment services from social networking and online entertainment firm Tencent and search firm Baidu are offered on Alibaba’s ecommerce sites, users could opt to use those,” Reuters reports. “Alternatively, Alipay could cement its dominance if customers opt to use it on rivals’ platforms.”

Filed by This email address is being protected from spambots. You need JavaScript enabled to view it. nfcworld.com Published 4 August 2015, 12:20 • Last updated 4 August 2015, 12:20