Caixin
Sep 06, 2013 06:29 PM

Alipay and UnionPay Battle over How Payments Are Processed

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(Beijing) – A clash between two titans in the country's payment industry has shed light on the worsening tension between challengers and a monopoly defending its privileges.

The conflict surfaced when Alipay, the third-party payment arm of e-commerce giant Alibaba Group, said on August 27 that it will stop its offline point-of-sales (POS) service for "obvious reasons."

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