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Retail

China fines Alipay for violating payment services regulations

FILE PHOTO: An Alipay logo is seen at a cashier in Shanghai, China January 12, 2017. REUTERS/Aly Song/File Photo

BEIJING (Reuters) - The Shanghai head office of China’s central bank has levied a fine of 4.12 million yuan ($601,846) on Alipay, the online payment platform of Ant Financial, for violating regulations on payment services, the regulator said on Monday.

It gave no other details.

Reporting by Beijing Monitoring Desk; Editing by Clarence Fernandez

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