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China will cap QR-code payments to tackle fraud
China's central bank is issuing regulations over QR-code-based payments. Paying for things by scanning a barcode with the Alibaba or WeChat app is more common than using cash in the region and now the government wants to keep closer tabs on where the money is going. You might laugh at the idea, but QR codes aren't the punchline in the east that they are here. For instance, plenty of cabbies prefer taking QR payments because it means they don't have to handle small change.
China could be Apple Pay's 'largest' market
One of China's biggest banks might've spoiled Cupertino's surprise about Apple Pay launching in the region, but, well, now its Thursday debut is official. "We think China could be our largest Apple Pay market," vice president of the service Jennifer Bailey told Reuters. Of course, the hard part will be convincing the Chinese populace that a hardware specific feature is better than apps offered by the likes of WeChat Payment and Alipay. But if any entity has the optimism for such a feat, then maybe it's Apple -- the company hoping you'll buy a $99 Pencil.
