China Banking Regulatory Commission (CBRC) denied that it has encouraged banks to charge fees for online transactions, reports National Business Daily quoting a related CBRC director.
In an internal meeting it was proposed such fees be charged. The meeting was dealing with the risk associated with Alibaba Group’s online payment tool Alipay and other third-party payment tools.
However, China Banking Regulatory Commission has not yet approved the measure.
Recent reports said the CBRC had suggested that banks adopt ‘appropriate’ fees for online transactions.
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