Caixin OnlineFinance & EconomicsTop Stories Finance Alipay and UnionPay Battle over How Payments Are Processed
09.06.2013 18:29

Alipay and UnionPay Battle over How Payments Are Processed

State-owned firm wants bankcard transactions routed through its system, a move experts say counters efforts to open market
By staff reporters Wen Xiu and Zhang Yuzhe
A

(Beijing) – A clash between two titans in the country's payment industry has shed light on the worsening tension between challengers and a monopoly defending its privileges.

The conflict surfaced when Alipay, the third-party payment arm of e-commerce giant Alibaba Group, said on August 27 that it will stop its offline point-of-sales (POS) service for "obvious reasons."

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Latest Issue:
Ammonia in the Haze
Farms and cars are contributing to rising levels of ammonia gas in the country, but the impact on air pollution is still hazy
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