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China has back-pedalled on a plan to ban retailers from utilizing private QR codes to obtain funds, sustaining the established order wherein hundreds of thousands of avenue distributors, small companies and even beggars depend on the easy scanning of a bar code to obtain cash.
It marked a uncommon retreat by the Folks’s Financial institution of China over its management of Alipay and WeChat Pay, which collectively management over 90 per cent of the nation’s cellular funds market, after the proposed ban on utilizing private QR codes to obtain…
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