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China's central bank encourages local businesses to accept foreign payment cards - TL;DR CNBC

China's central bank encourages local businesses to accept foreign payment cards

Publishing timestamp: 2024-02-07 19:25:30


Summary

China is encouraging banks and local businesses to accept foreign bank cards and considering other steps to make mobile payments easier for international visitors. They are also looking at raising the threshold for ID information requirements for Alipay and WeChat Pay transactions. The article highlights the increasing acceptance of foreign credit cards and the focus on information protection and privacy.


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Keywords: market insiderbusiness newsalibaba group holding ltdtencent holdings ltdvisa incstock marketsbreaking news: marketsmarkets

Source: https://www.cnbc.com/2024/02/08/chinas-central-bank-encourages-local-businesses-to-accept-foreign-payment-cards.html


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