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China still obstructs KakaoPay s MyData business Posted : 2021-04-05 16:33 Updated : 2021-04-05 17:02 A KakaoPay user makes a payment with his smartphone using a QR code in this file photo. Courtesy of KakaoPay By Park Jae-hyuk KakaoPay is still facing difficulties in its attempt to win a MyData license, as the Chinese authorities have yet to respond to a request from the financial authorities here to confirm whether or not the Korean fintech firm s second-largest shareholder, Alipay, is under any sanctions there. The MyData business is regarded as a future growth engine for most financial firms here as its license enables them to receive their customers credit information from conventional financial firms, so that customers can access all their financial data in one place.

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