People’s Bank of China (PBOC) is working to create a system for regulating QR code mobile payments in the country, after it suspended QR code-based services run by third-party payment providers in March 2014. “Payment providers including Alipay and Tenpay, along with a number of commercial banks, have continued marketing their QR code payment services,” Caixin reports. “A source close to the central bank said that the 2014 ban was put in place because there were no rules or standards for third party QR code payment services.” PBOC also moved to open up Chinese mobile payment services in August 2015.
- Meet NFC World partners at Seamless Middle East
- Goode reports on growth of biometric authentication
- 3.4bn phones will support Apple Pay, Android Pay and Samsung Pay by year end
- Apple to launch P2P payments and debit card this year?
- Guide introduces how Android Pay works