“ICBC informed customers that it was cutting back resources needed to process such transfers. Alipay said the restrictions were imposed by ICBC and referred customers to the bank’s service hotline. It also suggested customers try using a different bank account for Alipay. The move follows on the heels of similar moves in recent months, with all four state-run banks imposing new monthly limits on the amount of money customers can transfer to mobile payment products like Alipay. In response to such moves, Alibaba founder Jack Ma has come out swinging. ‘What determines success in the market shouldn’t be the monopolies and those with power, but the consumers,’ he said.”
http://blogs.wsj.com/chinarealtime/2014/03/26/chinas-largest-bank-declares-war-on-alibaba/
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