If you are a company that runs online payment services in China, you must obtain a license to legally conduct the transactions in the country. That’s a basic rule. But for Chinese firms who want to dip their toes in payment industry, getting a license to legalize their status as an online payment agency is becoming increasingly difficult as more internet giants are making their forays into the business.

Over the past few months, China has recorded a continuous raft of acquisitions on companies holding third-party payment licenses, which authorize non-bank financial institutions to run online payment businesses. It is worth nothing that such licenses could not be treaded, so acquiring a company that already has it is the only path for another company to obtain the license.

Here’s a list of the recent deals that involves the shift of third-party payment license ownership.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.