ICBC has already limited transfers to Alipay to 50,000 yuan (HK$62,800) per month, in part to slow deposits leaving for high-yielding money market funds such as Alibaba's Yu E Bao. Photo: Reuters ICBC has already limited transfers to Alipay to 50,000 yuan (HK$62,800) per month, in part to slow deposits leaving for high-yielding money market funds such as Alibaba's Yu E Bao. Photo: Reuters
ICBC has already limited transfers to Alipay to 50,000 yuan (HK$62,800) per month, in part to slow deposits leaving for high-yielding money market funds such as Alibaba's Yu E Bao. Photo: Reuters

Beijing to set limits on online payments in security push

Move aims to protect banks and consumers from fraud as internet transactions soar

ICBC has already limited transfers to Alipay to 50,000 yuan (HK$62,800) per month, in part to slow deposits leaving for high-yielding money market funds such as Alibaba's Yu E Bao. Photo: Reuters ICBC has already limited transfers to Alipay to 50,000 yuan (HK$62,800) per month, in part to slow deposits leaving for high-yielding money market funds such as Alibaba's Yu E Bao. Photo: Reuters
ICBC has already limited transfers to Alipay to 50,000 yuan (HK$62,800) per month, in part to slow deposits leaving for high-yielding money market funds such as Alibaba's Yu E Bao. Photo: Reuters
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