Daily Brief: China UnionPay Condemns Ctrip for Saving Users’ Card Information; The Four Banks All Lower the Pay Cap of Alipay’s Quickpay
2014-07-10 13:11

Daily Brief: China UnionPay Condemns Ctrip for Saving Users’ Card Information; The Four Banks All Lower the Pay Cap of Alipay’s Quickpay

China UnionPay Condemns Ctrip for Saving Users’ Card Information
In response to Ctrip’s payment security problem, yesterday China UnionPay condemned Ctrip’s action of over-collecting uses’ information and saving their card information including the card verification value (CVV) number. “It’s not allowed,” said UnionPay. And other banks involved said they didn’t know that Ctrip was saving the imformation.

The Four Banks All Lower the Pay Cap of Alipay’s Quickpay
After Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC) and Bank of China (BOC) all set a lower limitation for Alipay’s Quickpay service, China Construction Bank (CCB), which had enjoyed the largest cooperation with Alipay, also reduced the pay cap last weekend.

Sina Weibo: Wang Goafei Will be the CEO
It is said that in preparation for the IPO, Sina Weibo has made some adjustments. Cao Guowei, president and CEO of Sina, will become the president of Sina Weibo, and Wang Gaofei, senior vice president of Sina, will work as the CEO of Sina Weibo. In terms of the whole group, the previous three research and development groups will be divided into six.

Taxi App Allowance: The End Is Coming
The competition between Didi (嘀嘀) and Kuaidi (快的), the two largest taxi hailing apps, seems to end up soon, as they now only offer a 3-yuan allowance for passengers in almost every city. Open information shows that they have already invested 1.9 billion. Some people says they immediately uninstalled the apps, while according to a survey conducted by the Social Survey Center of China Youth Daily, 47.9% of the 2211 respondents in Beijing, Shanghai Guangzhou, Shenzhen and Hangzhou say that they will continue to use the app even if the allowance is over.

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