This article is more than two years old

China goes live with QR payments spending cap

China caps store mobile payments at $80 — Nikkei Asian Review — “The People’s Bank of China, the country’s central bank, implemented the caps on Sunday for different types of QR code payments, based on relative risk. For payments made by scanning a printed QR code displayed by the seller, the daily limit is set at 500 yuan (about US$80)… Such popular services as Alibaba Group Holding’s Alipay and Tencent Holdings’ WeChat Pay are affected.”