Yahoo share price plummet as Alibaba Spin off Alipay

The giant internet company, Yahoo noted late this Thursday that Alibaba Group China base has transferred the ownership of its online payments unit Alipay without any notification. Yahoo shares have fallen more than 6% in the premarket trading on Friday. Yahoo said in the Claim on Thursday that it will continue to work...

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27 Enterprises Got Third-Party Payment License

News on May 26 said that the Third-Party Payment Licenses have been mailed to relavent enterprises and organizations, which amounted to 27. The private-owned third-party payment enterprises of Tenpay, Alipay and 99bill all received the licenses. The “Management of Payment Service of Non-Financial Institution” issued...

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China banks lower online payment limit to fight third party payment companies

Days ago, we have reported a piece of news about China Merchants Bank’s (CMB) cutting of online payment limit by shrinking the daily maximum consumption limit of the All-in-one card of General Edition to 500 yuan from 5000 yuan, and changing the customer-settled online payment limit of credit cards to “not over...

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