In China, buyers of goods in online stores will be required to provide real data



    It seems that in China, control over the Chinese segment of the Network and its users is strengthened not from year to year, but from month to month. Only recently, bloggers from the Chinese microblogging service were required to register under real names. Now, users of online stores will need to indicate not only real names, but also confirm the entered data with passport numbers or other documents.

    Previously, customers could work with online stores through intermediary payment systems without transferring money directly to the online store. Now, however, intermediaries will be required to identify their customers, so that authorities will be able to understand who the funds are coming from and for which product / service. In general, for most online buyers, such a measure does not represent any inconvenience, but those customers who did not want to "light up" will now not be able to buy anything anonymously.

    Now, all payment systems operating in China, all online stores and in general all organizations involved in the field of online payments will be required to identify users and save their data. Authorities believe that such measures will help reduce online fraud, and this is really a real problem. Money turnover in the Chinese segment of the Network is huge, amounting to hundreds of billions of dollars, and control over financial flows is minimal.

    Interestingly, all payment systems in China are subordinate to the People’s Bank of this country. Each payment system must obtain a license from the National Bank. However, this does not stop Internet entrepreneurs, and in 2011 more than 100 licenses for this field of activity were already issued.

    Via marbridgeconsulting

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