The transaction volume of non-banking payments grew to almost $15 trillion in 2016, increasing twofold from 2015. Today, 40% of China’s population get around carrying less than $15. To tackle this unprecedented industry, financial regulators need to catch up.
from Forbes Real Time http://www.forbes.com/sites/jinshanhong/2017/08/18/how-chinas-central-bank-is-clamping-down-on-the-mobile-payment-industry/
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