The People’s Bank of China is in the process of developing new rules that will regulate domestic mobile payments, Finextra reported on December 12.
The new regulations will focus on interoperability between platforms and spurring innovation in the sector. According to Finextra, the PBOC hopes to build on previous regulation that restricted the number of companies that can process mobile payments.
China’s share of global mobile payments is expected to reach $80 billion by 2015.
To learn more about the as-yet-completed mobile payments regulations, read the full story here.
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