13 Oct 2021 05:59PM
(Updated: 13 Oct 2021 05:57PM)
BEIJING : China’s central bank said on Wednesday it will step up regulations on payment activities via point-of-sale devices (PoS) as well as Quick Response codes (QR codes).
The move is to enhance regulators’ risk management of the payment terminals, and to cut off the illegal fund flows of cross-border gambling using such devices, the People’s Bank of China (PBOC) said on its website.
(Reporting by Cheng Leng, Stella Qiu and Ryan Woo; Editing by Louise Heavens)