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Virtual credit cards banned by Central Bank  

央行紧急叫停支付宝腾讯虚拟信用卡

3月14日,市场有消息称央行昨日下发紧急文件叫停支付宝、腾讯的虚拟信用卡产品,同时叫停的还有条码(二维码)支付等面对面支付服务。[查看全文]
2014-03-14 14:33 Ecns.cn Web Editor: Gu Liping
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(ECNS) -- Citing unnamed sources, the Beijing News said on Friday that certain banks have received a circular from the People's Bank of China, the central bank, banning virtual credit cards and QR code payments.

The circular said the QR code payment system changes the traditional business mode and puts clients' personal information at risk. Virtual credit cards are also risky and require more research.

Chinese e-commerce giant Alibaba announced that its Alipay will collaborate with China's CITIC Bank to start issuing virtual credit cards. Tech giant Tencent also released similar plans before.

Both companies said they have just received the circular.

Taxi booking apps supported by the two giants are also being challenged.

Staff of Payment and Settlement Department of the central bank has confirmed the circular.

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