Should China’s central bank clamp down on online payment companies?
A report compiled by a Chinese regulators has advised the country's central bank to clamp down further on online payment service providers by raising the entry threshold for the market and by encouraging the existing 270 operators in the market to merge. New rules have already been implemented that have been viewed as the toughest-ever regulation on third-party payment companies, requiring them to verify user identities and limit the payment amounts they can handle for different purposes.
(Beijing) – The central bank should rein in the growth of online payment service providers in light of problems and risks associated with them, government researchers say in a recent report.

The report drafted by the regulator's internal research unit recommended that the central bank raise the entry threshold for the market and encourage the existing 270 license holders to merge. It did not provide a number for how many companies the market should have.