Administration, AliPay, and American Banking conflicts

Summary: The administration is trying to ban Alipay, QQ wallet, WeChat Pay, etc, from operating in the US.

Analysis: This order is possibly more important than the #TikTok / #WeChat ban, politically and economically.

#AliPay, and maybe others, were in the process of debuting in the USA as a credit-card processor, a la Visa / Mastercard. AliPay is already functioning in Canada and a couple American cities. Were they to start working, they would have seriously pressured #Visa and #Mastercard's processing fees. Meaning that #smallBusiness's wouldn't have to keep paying through the nose for credit card payments.

So did #WallStreet have a say in this new Executive Order? Assessed Likely. And if that were the case, a new administration is likely to continue this ban.

Now the Federal Government had pressured banks against undesirable merchants in #OperationChokePoint, so there is a precedent in politicizing the Financial industry against certain industries. By eliminating foreign competition, it will be easier for the Federal Government to do it again.