![]() The comments come after Bloomberg reported. The bigger picture:While not definite, an order to bring WeChat Pay under Tencent’s financial holding company would extend the government’s crackdown on Tencent and other Chinese tech powerhouses. Key Points Chinese giant Tencent is exploring whether regulators will require it to create a financial holding company to house is fintech business. Users in 23 cities across China, including Shanghai, Beijing, and Shenzhen, can now pay for goods and services with the e-CNY. The People’s Bank of China found Tencent’s WeChat Pay had allowed the transfer of funds for illicit. This could open a Pandora's box of unwanted regulatory scrutiny for Tencent. reported it faces a record fine for violating Chinese anti-money laundering regulations. Bringing WeChat Pay under the financial holding company would also give the government access to the mobile wallet’s user data, including transaction information. ![]() But the restructuring might lead to additional steps for consumers that wear away one of WeChat’s biggest advantages: convenience. Tencent’s WeChat Pay vice-general manager, Lei Maofeng, said Wednesday he hoped consumers will soon be able to use the mobile payment app in all scenarios. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |