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Payment app Alipay could be the latest victim of China's crackdown on tech firms

Shortpedia

Content Team
Image Credit: Shortpedia

China continues to crack down on major tech firms in the country. Payment App Alipay could be the latest on the list to face sweeping actions from the Communist Party of China. "The government believes big tech's monopoly power comes from their control of data. It wants to end that," a source said. Alipay app allows users to pay with a traditional credit card linked to their bank. It also offers small unsecured loans.