The central government would seek to break the monopoly in the banking sector, former premier Wen Jiabao said early last year. Since then 250 third-party payment licences have been issued, allowing non-bank companies to offer online payment services, issue and accept pre-paid cards, and handle bank card transactions through point-of-sale devices.
via Business feed http://www.scmp.com/business/banking-finance/article/1299375/online-services-shake-china-banking-world
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