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Third-party payment market reshuffle underway
The People’s Bank of China (PBC) imposed fines on two third-party payment companies on July 30. One of the two violators, Kayou Payment Services Co., Ltd. (Kayou Payment), was fined 24.9 million yuan, 27 times of its illegal gains.
August09,2018
China toughens supervision on third party payment
China's third-party payment companies may face intensified competition as regulators step up oversight of the industry to prevent financial risks.
March22,2018
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