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People's Bank of China, the country's central bank, plans to create a "blacklist" of foreign bankcards involved in fraud, the bank says in a statement. Financial authorities would share the list with merchants. A bank spokesperson declines to say when foreign-issued cards have made it onto the list. "We are working with police and banks to ensure a secure payment environment for all visitors in China during the Olympics," the spokesperson tells CardLine Global. About 95% of merchants in Beijing accept Chinese bankcards, while 90% of those merchants accept foreign cards, the bank says.
