US President Donald Trump on Tuesday signed an executive order banning US transactions with eight Chinese apps, including Ant Group’s Alipay. While the order cites US national security, it also points to the Indian government’s ban of over 200 Chinese apps, citing the Indian IT Ministry's statement that the now-banned apps were “stealing and surreptitiously transmitting users’ data in an unauthorized manner to servers which have locations outside India”. The executive order, which directs the US Commerce Department to draft rules outlining the specific payments and transactions to be prohibited, will also impact Tencent Holdings Ltd.’s WeChat Pay, QQ Wallet and Tencent QQ, as well as CamScanner, SHAREit, VMate and WPS Office. VMate allows movie and video downloads and is owned by Alibaba-operated UCWeb. WPS Office is an office suite app developed by Beijing Kingsoft. Incidentally, India has already banned…
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- RBI has the powers to regulate payment aggregators: Delhi High Court October 3, 2022
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