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China’s central bank to begin testing QR code payments registration and settlement regulations from April

China’s central bank to standardize QR code payment — Xinhua — “The People’s Bank of China (PBOC) announced plans Wednesday to regulate QR code payment to contain risks arising from the popular service. Payment institutions must obtain proper permits to offer barcode-based payment services, according to a document released by the PBOC. Both banks and non-banking payment institutions must channel cross-bank transactions involving barcodes through the clearing system of the PBOC or other legal clearing houses… The standards will be put into trial use from April.”