NEW YORK: The United States is considering restrictions on China's Ant Group as well as Tencent Holdings over concerns their digital payment platforms threaten national security, Bloomberg News reported on Wednesday .
In the last year, the United States has cracked down on Huawei and TikTok after allowing the Chinese-owned firms to become major players in US telecommunications infrastructure and social media, respectively. Both Ant's Alipay and Tencent's WeChat payment platforms are used primarily by Chinese citizens holding accounts in renminbi. Most of their interactions with the United States are with US merchants accepting payments from Chinese travelers and businesses.
"Ant Group's business is primarily in China and we are excited about our growth prospects in the China market. Our mission is to contribute to economic growth and job creation through serving ordinary consumers and small businesses," the company said.The US government has been taking separate action against Tencent's WeChat app.
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