China takes action against rejection of cash payment

Ensuring the security and confidentiality of personal accounts is important to prevent online theft. Foto: El mundo.es

The Central Bank of China is designing measures against the refusal of many private and public companies to accept cash payments and to try to force users to use the company. extended digital option.

This measure faces the continuing complaints of citizens unable to settle their accounts with physical money in institutions in tourist areas, restaurants and shops.

The Bank considered this discriminatory practice, detrimental to the legal status of the yuan – the Chinese currency – and therefore violating it urged all financial platforms not to induce their proliferation among businesses or individuals, and demanded to fix it immediately.

In China, payments for mobile telephony phones are gaining momentum and last year they closed with an increase of 28.8%, or 203 billion yuan ($ 32 billion). 016, these movements were 157 billion yuan (more than 24 billion dollars).

The most popular requests to cancel online purchases are WeChat and Alipay, who are also expanding their global presence with disbursement admissions

However, the Central Bank of China has declared that it regulate these transactions this year to avoid fraud, unfair competition and other risks.

This entity will require the different institutions. advertisers get the appropriate permissions to execute them and will issue standard rules on the use of the method.

In addition, he will order the implementation of more effective provisions guaranteeing the security and confidentiality of personal accounts, with online flights continuing to gain strength.

(With the help of information from Prensa Latina)