“The new rules regarding commercial collection codes look like another regulatory measure related mainly to the main mobile payment providers Alipay and WeChat Pay, and not necessarily as a promotion for the digital RMB deployment,” Amnon Samid, CEO of Israel-based cybersecurity company BitMint, whose technology was used in the e-CNY trial of Bank of Shanghai, told Forkast.News.
The central bank said there have been cases where some businesses would use personal collection barcodes to transfer a large amount of operational funds, making it harder to monitor risks.Īn analyst from Huaxi Securities said the country’s banking system could potentially take back the dominant position in payment as the digital yuan continues to be distributed. The PBOC has said in a statement such new rules are designed to clarify the use of personal collection barcodes to monitor relevant risks. It’s common in China for small business merchants, such as food vendors, to use personal codes to collect payment. Specifically, the new rules, set to take effect next March, will require merchants to use merchant barcodes for business activities rather than using personal collection barcodes.
Ecny wechat pay mauskharpalcnbc crack#
The People’s Bank of China (PBOC), the central bank, has issued new regulations for mobile payments - the predominant payment method within the nation - that looks to further stipulate the use and classification of payment collection barcodes in a bid to crack down on crimes related to such payment barcodes such as illegal gambling. China is introducing new rules for mobile payments, in a move that some experts say could pave the way for the future deployment of the country’s central bank digital currency - the e-CNY.
0 kommentar(er)
