China central bank will monitor all mobile transactions

Starting on June 30, 2018, payment agencies involved in the online payment business that accept bank accounts will have to use Wanglian (网联, meaning network platform or Non-Bank Internet Payment Union). By October 15, 2017, banks and payment companies should migrate their business to Wanglian.

The use of the centralized payment network platform will prevent payment services companies (i.e. Alipay) from directly dealing with banks. (Sohu)
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