China’s online payment market comes to SAMR attention amid complaints of alleged oligopoly
16 July 2020 - 12:00 am UTC
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.
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