Why mobile payments are worrying China’s central bank

Alipay, WeChat Pay seen as weakening PBOC’s grip on money supply. For most Chinese officials, the sweeping trend toward the use of mobile phones to make payments is a point of pride in the nation’s technological advancement. For those at the nation’s central bank charged with managing the financial system, however, the rapid rise of cashless payments is raising concerns … http://s.nikkei.com/2vLcrZs

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.