Alipay Shuts Down Offline POS Payment Services

Sohu IT, 8/27/13

Chinese third-party payment processor Alipay has announced on its official microblogging account that the company will terminate all offline POS payment services, citing "well-known reasons."

Editor's Note: Industry insiders have speculated that Alipay has bowed to pressure from Chinese banking network China UnionPay. At a recent China UnionPay board meeting, the company released a directive stating that that it will push for all offline and online payment transactions in China to be carried out through UnionPay, targeting third-party payment operators such as Alipay. For more information on this topic, please see "Alipay Launches Offline Payment Service," MD 3/19/12 issue.

Keywords: Internet Alipay China UnionPay POS third-party payment e-payment

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