The Chinese central bank has moved to prevent MasterCard from processing credit card payments in renminbi, according to the Financial Times.
The FT says a document shows that last month online payments outfit EPayLinks was ordered to stop issuing renminbi settled cards in partnership with MasterCard.
"No payment institution is allowed to co-operate with foreign card companies in developing cross-border payment businesses involving renminbi bank accounts or renminbi payment accounts," says the document.
Last year, following a US complaint, the World Trade Organisation (WTO) ruled that China discriminated against firms such as MasterCard and Visa by giving local UnionPay a monopoly in domestic transactions.
China blocks MasterCard processing renminbi transactions - FT (sub)