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Tenpay Fined 2 Billion 990 Million

Photo Illustration A citizen checks a notice issued by Tenpay on accepting and resolutely obeying the decision of administrative punishment in Beijing, China, July 8, 2023. On the evening of July 7, Tencent Holdings announced that Tenpay Payment Technology Co., Ltd. had received a notice from the People's Bank of China regarding its decision to impose a fine of approximately RMB 2.99 billion on Tenpay for past regulatory noncompliance in providing payment services in mainland China. On July 7, Tenpay Payment Technology Co., Ltd. also issued an announcement saying that it had received the administrative punishment decision made by the People's Bank of China on Tenpay, which we sincerely accept, resolutely obey and implement, and strictly implement the relevant decision. (Photo Illustration by Costfoto/NurPhoto)

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