Quarterly Business Update: Payments Transformatio... | KPMG | CN

Quarterly Business Update: Payments Transformation - Issue 2, September 2012 (Part One)

Quarterly Business Update: Payments Transformatio...

Cash is the most popular means of payment in China, but this has not prevented several varieties of alternative payment mechanisms being introduced since 2001, including prepaid cards issued by retail stores, top-up cards from telecommunications companies, and some credit cards. While cash remains the most popular means of exchange in China, we are seeing a rapid shift towards electronic payment methods.  

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In this Issue:

  • 3rd Party Payment Licensing – What You Need to Know
  • History of Payments Regulation
  • Continued Government Support
  • What do the Licenses Permit Holders to do?

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