The two parties will design a mobile payment product for Xiaomis smartphones. Theres no mention of a timeline, but Xiaomi said that the service will be an NFC-based solution.
Xiaomi and China UnionPay have already collaborated to offer mobile payment functions with the latters QuickPass service, which allows users to complete transactions by placing their mobile phones near the card slots or the NFC reading areas of compatible point-of-sale (POS) terminals.
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