Alipay, a Chinese payments platform operated by Ant Financial Services Group, has been fined RMB180,000 ($28,501) by the People’s Bank of China Hangzhou Central Sub-branch for various irregularities.
The regulator accused the payments platform of inadequate customer rights protection, misleading product promotion in video campaigns and social media.
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Alipay was also accused of using customers’ financial data improperly.
The company responded to the allegations saying that it has already taken remedial measures.
Alipay has also been reprimanded previously for various breaches. Last year, Alipay along with Tencent’s Tenpay were fined by the central bank for inadequate user verification standards.
In January this year, Ant Financial, Alibaba’s payment arm, was reprimanded by the Cyberspace Administration of China (CAC) for breaching user privacy.
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