China’s online payment market comes to SAMR attention amid complaints of alleged oligopoly

China’s antitrust regulator is starting to pay attention to the competition situation in the domestic online payment sector after having recently received complaints about two major players in the market, according to two people familiar with the matter.

Alipay and Tenpay, operated respectively by the financial branches of China’s internet giants Alibaba Group and Tencent, have been the subject of complaints to the State Administration for Market Regulation (SAMR) for allegedly having abused their dominance in the online payment sector.

The alleged oligopolies, which are said to hold a large market share, are accused of charging unfair transaction fees and excluding competitors, among other complaints.

 

PaRR subscribers can read the full article on PaRR here.

 

Not a subscriber? PaRR delivers global intelligence on competition law. To read this article and more, apply for a free trial below.

To read the full article, try PaRR for free:

One of our team will be in-touch to set-up your free trial