Oncard assessing China payment market regulations

Oncard assessing China payment market regulations

Electronic funds and data transfer company Oncard International (ASX:ONC) is assessing the implications of the recently-announced regulations for the non-bank payments industry in China.

OnCard said the regulations will apply to three businesses which OnCard operates in China – OnCard Payments and JVs Shanghai Smart Service and Beijing All Payments.

The company's operations in China include a prepaid cards business as well as consumer and merchant e-payment solutions.

ONC shares have today slumped 4.76% to $0.100.

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Tags regulationChinaOncardElectronic payment

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