The news that “personal receipt codes are prohibited from be...

The news that “personal receipt codes are prohibited from being used for business services from March 1, 2022” and “personal static receipt barcodes are prohibited from being used for remote non-face-to-face payments” sparked a buzz.
This news comes from a new bar-code payment regulation notice recently issued by the central bank. On October 13, 2021, the central bank's official website published the “Notice of the People's Bank of China on Strengthening the Management of Payment Acceptance Terminals and Related Businesses”, which puts forward a series of management requirements for collection agencies and clearing structures. At the same time, bar code payments have also been regulated, and specific regulations on the use of bar codes for personal receipt have been made, and will be implemented from March 1, 2022.
Hong Kong stock prices of Tencent Holdings and Alibaba fell.
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