The incumbent outlines its response to an increasingly fragmenting payments landscape offering to support old and new customers alike by helping them de-risk major technology investments with the provision of a gateway service.
The People's Bank of China has established an integrated system to connect banks, merchants, and retailers to facilitate increased transactions, which grew 74.5% to $913.5 trillion in 2015. With growing consumer spending, financial institutions in China have to step up to meet the needs of retail clients.
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