Central Bank Advised to Rein in Online Payment Companies
(Beijing) – The central bank should rein in the growth of online payment service providers in light of problems and risks associated with them, government researchers say in a recent report.
The report drafted by the regulator's internal research unit recommended that the central bank raise the entry threshold for the market and encourage the existing 270 license holders to merge. It did not provide a number for how many companies the market should have.
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