Arab Today, arab today china suspends virtual credit cards code scanning payments
Last Updated : GMT 03:09:15
Arab Today, arab today
Arab Today, arab today

China suspends virtual credit cards, code scanning payments

Arab Today, arab today

Arab Today, arab today China suspends virtual credit cards, code scanning payments

Beijing - XINHUA

The People's Bank of China (PBoC), the central bank, has suspended the use of virtual credit cards and payments via code scanning over security concerns, an official told Xinhua on Friday. Zhou Jinhuang, vice director of the PBoC's payment and settlement department, said the central bank has issued a notice to suspend Tencent and Alipay's virtual credit cards and payments by scanning a bar or QR code. "It's just a suspension, rather than a prohibition," said Zhou, adding that the decision is aimed at regulating business in the sector and safeguarding consumers' interests, not targeting any specific company. Zhou said PBoC is always supportive of innovation in the finance sector, but payments via code scanning and virtual credit cards are closely linked to consumers' personal information and financial safety and therefore need further consideration. Consumers filed complaints that their personal information and money were stolen during code scanning payments, according to Zhou. China CITIC Bank announced on Tuesday it will partner with Tencent and Alipay under Alibaba to issue online credit cards. Alipay aimed to issue one million virtual credit cards with a minimum credit line of 200 yuan (32.6 U.S. dollars). The service was expected to appear next week on Alipay Wallet, a mobile app that allows users to invest in a wealth management product called Yu'ebao and make online payments by scanning a digital code. Tencent also planned to issue one million such cards. Tencent's Hong Kong-listed shares tumbled more than four percent over the suspension during Friday trading, and China CITIC Bank's Shanghai-listed stocks dived 8.26 percent before trading was halted by noon. Alipay is not a public firm.    

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china suspends virtual credit cards code scanning payments Arab Today, arab today china suspends virtual credit cards code scanning payments

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china suspends virtual credit cards code scanning payments Arab Today, arab today china suspends virtual credit cards code scanning payments

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday