Money
China Payment and Clearing Association debuts
Updated: 2011-05-23 15:45
By Cai Muyuan (chinadaily.com.cn)
China's central bank sent out notifications to many payment service companies about attending an establishment conference Monday for the China Payment and Clearing Association, cnr.cn reported.
It's not certain whether third-party payment licenses will be released at the conference. Some industry insiders believe the license issuance may trigger a new round of industry shuffling. The website reported that it is quite likely that half of the current third-party payment providers will fail to get a license and thus be eliminated.
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