A merchant displaying payment services offered by Apple Pay, Ant Group’s Alipay, WeChat Payment, Tencent QQ and UnionPay at a store in Guangzhou. Photo: SCMP A merchant displaying payment services offered by Apple Pay, Ant Group’s Alipay, WeChat Payment, Tencent QQ and UnionPay at a store in Guangzhou. Photo: SCMP
A merchant displaying payment services offered by Apple Pay, Ant Group’s Alipay, WeChat Payment, Tencent QQ and UnionPay at a store in Guangzhou. Photo: SCMP
Tech /  Big Tech

China’s central bank defines monopoly for the first time in antitrust curb of world’s largest online payment services market

  • Any nonbank service provider with half the online transactions market, or two entities with a combined two-thirds share, could be subject to antitrust probes
  • Three providers with three-quarters of the market would also set off the antitrust alarm

Topic |   China technology
Tracy QuJane Zhang
Tracy Qu  and Jane Zhang

Updated: 7:52am, 21 Jan, 2021

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A merchant displaying payment services offered by Apple Pay, Ant Group’s Alipay, WeChat Payment, Tencent QQ and UnionPay at a store in Guangzhou. Photo: SCMP A merchant displaying payment services offered by Apple Pay, Ant Group’s Alipay, WeChat Payment, Tencent QQ and UnionPay at a store in Guangzhou. Photo: SCMP
A merchant displaying payment services offered by Apple Pay, Ant Group’s Alipay, WeChat Payment, Tencent QQ and UnionPay at a store in Guangzhou. Photo: SCMP
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