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Published on Sep 6, 2017
Mainland China has become the world’s largest and fastest-growing market for proximity mobile payments. People in China are now comfortable paying with their mobile phones rather than with cash.
But some experts warn the public to be concerned about the security of these online payments, especially about how it can be used for personal data collection. In order to ensure currency stabilization, the Central Bank plans to take more action in the e-payment industry that may limit the development of online payments in China.