A report compiled by a Chinese regulators has advised the country 's central bank to clamp down further on online payment service providers by raising the payment threshold for the market and by encouraging the existing 270 operators in the market to merge . New rules have already been implemented that have been viewed as the toughest - ever regulation on third - party payment companies , requiring them to verify user compliance and adjust the payment amounts they can collect for different purposes .
A report compiled by a Chinese regulators has advised the country's central bank to clamp down further on online payment service providers by raising the entry threshold for the market and by encouraging the existing 270 operators in the market to merge. New rules have already been implemented that have been viewed as the toughest-ever regulation on third-party payment companies, requiring them to verify user identities and limit the payment amounts they can handle for different purposes.