Available for Android devices, customers can send and receive mobile payments at participating merchants equipped with UnionPay QuickPass contactless POS terminals with the help of an NFC SIM card and mobile wallet application, as reported by the Nfcworld.com.
Both companies have also partnered with eight banks, including Bank of China, Bank of Shanghai, Bank of Beijing, China Everbright Bank, China CITIC Bank, China Minsheng Banking Corp, GF Securities, and Shanghai Pudong Development Bank.
The newly introduced service leverages China UnionPay’s trusted service management (TSM) platform which is completely included with China Mobile.
Seeking to enlarge the platform beyond payment cards by including transit, social security, student, access cards, mobile tickets, among others, China UnionPay is also considering to integrate its TSM platform with other Chinese mobile network operators.
China UnionPay chairman Su Ning was quoted by the news portal as saying, "Mobile payments as a new payment method is increasingly changing the way people pay and their consumption habits."
"China UnionPay will continue to deepen cooperation with commercial banks, mobile operators, handset manufacturers and other parties with a view to lead the development and build a harmonious win-win situation in the mobile payment industry," Ning added.
