China weighs Tencent payments overhaul, new license requirement

March 18, 2022 2:03 PM

BEIJING (BLOOMBERG) – Chinese authorities are considering requiring Tencent Holdings to include WeChat Pay in a newly created financial holding company, part of an overhaul that may necessitate a new license for the ubiquitous mobile payments service, according to people familiar with the matter.

Source : https://www.straitstimes.com/business/companies-markets/china-weighs-tencent-payments-overhaul-new-license-requirement