China's booming e-commerce market faces challenges as regulators seek to restrict online payments
Proposed regulations to severely limit online payments in China could shake up one of the country's most innovative and valuable markets, experts warned this week. If implemented, it would impose caps on the value of online transactions of as little as 1,000 yuan (US$157). (VIEW LINK). Great news for 99 Wuxian (NNW.ASX). Its business model is a mobile shopping platform embedded in all of China's top banks (9 of the top 10). If works with the banks, China Union Pay and PBOC. Payment is via direct bank accounts or linked credit cards. (no restrictions for 99) The Banks(Elephants in the room) are finally fighting back (protecting their backyard) against Alibaba (Alipay) & Tencent (Tenpay). One day the market will realise the unique business & Opportunity that is 99 Wuxian.
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