Alipay and UnionPay Battle over How Payments Are Processed
(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."
- Brexit: The View from China
- Central Bank Governor on Multiple Objectives and Challenges
- Transcript: PBOC Governor on Multi-Objective Monetary Policy
- Deadly Twister
- Intensifying Battle over Who Controls Vanke
- In Sino-African Resource Trade, China Needs a Mindful Approach
- The Illogic of Consumption as a Growth Driver
- Support Plan for Idled Industrial Workers
- Shanghai Taxi Service Clashes with Car-Hailers
- Digging Up Death, Extortion in China's Mines
- Sign up to receive our free daily newsletter
- Views: What Do Chinese Women Think of Hillary Clinton?
- China Seeks Assurances Against Possible Debt Default by Venezuela
- Mother's Fight to Exonerate Executed Son Highlights Gaping Holes in Justice System
- Lackluster Sales Signal Xiaomi's Growing Pains
- China in Major Expansion of Yuan Conversion Pilot Program
- Lessons from South Korea for China's Economic Rebalancing Act
- Chinese High Speed Rail Builder Doubts U.S. Partner's Sincerity
- China Life Insurance Joins Race to Take Chinese Healthcare Provider off NASDAQ
- Investor Pain over Mobile Medical App Strain
- Anti-Corruption Drive, Frugality Campaign Sap Banks of VPs