The PBOC issued a statement today, according to 21st Century Business Herald, that halts virtual credit card products and "face-to-face" payment services such as QR code payment:
- *PBOC HALTS QR CODE PAYMENT: 21ST HERALD
- *PBOC HALTS VIRTUAL CREDIT CARDS BY ALIPAY, TENCENT: 21ST HERALD
Tencent is down over 5% and Yahoo was dumped in morning trading in Japan (on the back of Alibaba's Alipay service being affected).
21st Century Business Herald reports:
March 13, the central bank issued an urgent document halt Alipay, Tencent's virtual credit card products, but stopped there barcode (QR Code) payment and other payment services face to face.
21st Century Network 21 has learned that on March 13, the central bank issued an urgent document halt Alipay, Tencent's virtual credit card products, but stopped there barcode (QR Code) payment and other payment services face to face.
Tencent is tumbling (and it appears perhaps a few people knew earlier in the week)…
and Yahoo (trading in Japan) was flushed on massive volume at the open…
via Zero Hedge http://ift.tt/1ggKgNj Tyler Durden