China Is Cracking Down On Abuse Of Prepaid Cards

Law360, New York (April 23, 2013, 11:53 AM EDT) -- In recent years, the market for commercial prepaid cards has been growing rapidly in China. There are two types of prepaid cards in China: vendor-specific cards (which can be used at only one store) and multipurpose cards (essentially cash-equivalent prepaid cards that can be used at a variety of vendors). Prepaid cards have provided considerable convenience to the public, and may even have stimulated consumption to a certain extent.[1] However, they also give rise to the risk of corruption and bribery for two main reasons: First,...
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