Jun 17, 2016 05:38 PM

Central Bank Raps Meituan for 'Breaking Payment Rules'

(Beijing) – A major Chinese group-buying mobile application has suspended its mobile payment feature after users complained to the central bank that it was offering unlicensed third-party payment services.

Meituan, which merged with its major competitor Dianping in October to form Meituan-Dianping – the country's largest group deal site offering discounts on movie tickets, restaurants and even laundry services – was among several companies that were told to stop allowing users to make payments using bankcards linked to their apps or websites, a person close to the People's Bank of China, which supervises the industry, told Caixin.

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