(ECNS) -- Two major banks plan to shut down services for third-party e-payment platforms after the peer-to-peer (P2P) lending platform Ezubao (E Rent Treasure) was raided for launching a $7.6 billion Ponzi scheme.
China Merchants Bank and Bank of Communication are following the move by Agricultural Bank of China and ending support for P2P platforms, an insider told the Beijing Morning News.
The person, who doesn't want to reveal his identity, said China Merchants Bank will no longer support P2P lending services after the Spring Festival, which falls on February 8.
A number of P2P platforms admitted that several banks had pulled P2P support for third-party payment integrations in the past few days.
