Central bank requires Chinese mobile payments providers to set aside customers’ prepaid funds

2. January 2018.

“China’s central bank said it will gradually raise the reserve funds ratio of third-party payment firms to 50% by April 2018 from a current rate of 20%, as it continues to ramp up regulation of the industry… It will eventually ban non-bank payment firms from making any private investments with money deposited by users, which […]

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