It has grown into a lifestyle choice of people in China using mobile payments throughout their daily activities, following the rapid development of mobile payment services led by third-party payment companies as Wechat and Alipay. While the payment by barcode/QR code as the main form of mobile payment, though quite convenient, yet has some ricks:
The static barcode can be easily to be tampered and infected with Trojan virus. Its rick prevention is identified as D level.
In addition, compared to bank card payment, barcode payment can be riskier and lark of standardization in some market.
The People’s Bank of China has come up with the regulation about barcode payment which will be officially implemented on April 1st, 2018.
New regulation on barcode payment:
With static barcode payment, the total transaction amount from one customer bank should be less than 500rmb in one day;
No limit with dynamic barcode payment. The New regulation will be is officially implemented on April 1st, 2018.