Wechat payment fraud license#

In China’s largest cities, residents pay on average 80% of their monthly expenditures (roughly 5,000 Yuan) through mobile payment services, while in fourth- and fifth- tier city residents use these means for 90% (3,000 Yuan) of their monthly expenditures, according to a 2021 China UnionPay report.īy the end of 2022, the cumulated digital payment value in China is set to reach 3.5 trillion USD, making the country a clear global leader for digital payments, followed by the United States with 1.8 trillion USD.Īccording to 2021 year-end statistics, the People’s Bank of China (PBOC) processed 275 billion electronic payment transactions in that year, which is a 16.9% increase compared to 2020. By the end of 2021, around 903.6 million people utilized mobile payments in China, which equals roughly 64% of the overall population. Paying through mobile phones has become second nature for the majority of Chinese.

Risk assessment for a transport operator in Greater China.

A world’s leading battery manufacturer setting its foot in China.

A global tech company’s development of mobile payment in China.

A global social media platform’s China export advertising expansion.

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Reasons for such requests are to obtain a loan or apply for a credit card or line of credit, establish a business relationship with a vendor or supplier or provide to potential buyers or investors. Businesses also need a Certificate of Status if a private individual or concern requests one.

Wechat payment fraud license#

Businesses need a Certificate of Status if a government agency requires one to register to do business in another state or country or for a professional license, business license or permit. A Certificate of Status is an official document issued by the California Secretary of State attesting that the business has filed and paid the fee for the annual or biennial statement of information and is current paying the franchise taxes. No business is required to go through another private entity in order to obtain documents or certificates from the California Secretary of State's office and no private entity can issue these documents, although a business entity may use an intermediary to submit filings, request a certificate of status, and pay fees to our office.īusinesses do not necessarily need to obtain a Certificate of Status. They are illegally issuing fraudulent Certificates of Status for business entities registered with the California Secretary of State.Īvoid being duped into buying a fake Certificate of Status by knowing what a business entity’s obligations are and who you’re doing business with.Ī Certificate of Status can only be issued by the California Secretary of State who is the official custodian of business records for the State of California. These private entities have no affiliation with or authorization to act on behalf of the State of California or the California Secretary of State. These Certificates of Status do not come from the California Secretary of State’s office. Some pose as legitimate intermediaries, others specifically offer fake certificates of status.( see example (PDF)). Some are making false and fraudulent representations about the obligation to obtain a Certificate of Status to induce businesses to pay for bogus certificates. The California Secretary of State has found fake Certificates of Status are being circulated from websites and social media messaging applications with payment platforms such as WhatsApp and WeChat.