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Caixin

China new mobile payment rules to target cross-border gambling

Central bank to push firms to differentiate 'individual' and 'merchant' bar codes

Alipay and WeChat Pay could be hard hit if the new rules from the PBOC are strictly enforced.   © AP

China's central bank has issued new regulations for the multitrillion-dollar payment sector in a bid to improve risk control and stamp out crimes like cross-border gambling that illegally uses payment bar codes to transfer funds.

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