“ transaction by any person, or with respect to any property, subject to the jurisdiction of the United States, with persons that develop or control the following Chinese connected software applications, or with their subsidiaries. “The following actions shall be prohibited beginning 45 days after the date of this order, to the extent permitted under applicable law,” says the order. However, the specifics of precisely which types of transactions are to be banned is yet to be announced. US firms have 45 days from the date of the order to comply. The order also lists the lesser-known payment systems QQ Wallet, Tencent QQ, CamScanner, SHAREit, VMate, and WPS Office.
The most prominent apps named are WeChat Pay and Alipay. “ pace and pervasiveness of the spread in the United States of certain connected mobile and desktop applications,” says the Executive Order, “and other software developed or controlled by persons in the People’s Republic of China, to include Hong Kong and Macau (China), continue to threaten the national security, foreign policy, and economy of the United States.” “At this time, action must be taken to address the threat posed by these Chinese connected software applications,” it continues. The order says this “aggressive action” must be taken because the apps have access to the data of a large number of users. We have enforced a ban on Alipay and WeChat Pay because the country is losing foreign currency earnings through its usage. Once they enter their payment information into the WeChat app, they can pay bills, make peer-to-peer money transfers, and pay for items online and in-store wherever merchants accept WeChat Pay. AppleInsider reports: President Trump has issued an Executive Order banning US transactions with a range of Chinese payment platform apps from February 18, 2021. WeChat Pay is linked to users’ Chinese bank accounts and/or Visa, MasterCard, or JCB cards. The order raises the possibility that the apps could track Federal employees and 'build. Nepal has banned popular Chinese digital payment apps WeChat Pay and AliPay saying payments from the unregistered systems were illegal and resulting in a loss of income to the Himalayan nation, a spokesman for the central bank said on Wednesday. By Executive Order, all US transactions with these apps must cease within 45 days. President Donald Trump has signed an executive order banning Alipay, WeChat Pay, and six other Chinese apps. We have strengthened our measures to effectively prevent future cases where some users had wrongfully collected payments outside of China using domestic QR codes," it said.The Trump administration says that Chinese payment apps, including WeChat Pay, are a threat to national security.
BANS WECHAT PAY ALIPAY SIX MORE CODE
"We request that all users abide by the Alipay Collection QR Code Agreement when using our QR code payment services.
"Alipay strictly complies with local rules and regulations in all markets where we operate, including overseas," Ant Financial said. "Overseas vendors should work with WeChat Pay's partners to enable WeChat Pay's collection services."Īlibaba's affiliate Ant Financial said Alipay's cross-border payment operations in Nepal were operating normally. "As for illegal payment collection overseas, we are constantly using technical means to crackdown and prevent this behavior," it said. Tencent said WeChat Pay's overseas division "strictly complies" with all regulations in the countries it operated in. They are widely used by Chinese tourists for making payments to Chinese-run hotels, restaurants and other businesses in Nepal as the payment giants seek to expand overseas. WeChat Pay, operating on Tencent's messaging service, and e-commerce giant Alibaba's Alipay, are the two dominant platforms in mainland China. While the order cites US national security, it also points to the Indian government’s ban of over 200 Chinese apps, citing the Indian IT Ministry’s statement that the now-banned apps were.
The order says this 'aggressive action' must be taken because the apps have access to the data of a large number of users. Under Nepali laws, anyone found guilty of embezzling foreign exchange can be sentenced to up to three years in jail. US President Donald Trump on Tuesday signed an executive order banning US transactions with eight Chinese apps, including Ant Group’s Alipay. AppleInsider reports: President Trump has issued an Executive Order banning US transactions with a range of Chinese payment platform apps from February 18, 2021.
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