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Sunday, 3 December 2023

Why China is barring loan defaulters from mobile payment apps

China has barred millions of customers from mobile payment apps due to record high defaults made by borrowers. The number of defaulters has risen from 5.7 million in early 2020. Blacklisted defaulters are forbidden from various economic activities, including buying airline tickets and making payments through apps like WeChat Pay and Alipay.

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