White House Curbs on Chinese Payment Apps Pose Risk to Ant
- Stakes are high for public offering and the future of payments
- If China retaliates, it could limit growth of U.S. banks
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The Trump administration’s potential restrictions on two Chinese payments giants would reverberate far beyond politics, potentially affecting multibillion-dollar deals, shaking up international commerce and even shaping the evolution of the global financial system.
U.S. officials have stepped up behind-the-scenes talks in recent weeks about possibly restricting the expansion of Ant Group’s Alipay and Tencent Holdings Ltd.’s WeChat Pay over concerns that the digital-payment platforms threaten national security, Bloomberg reported on Wednesday.