According to the source, Alipays mobile application users can now display a barcode on their mobile devices that merchants can then scan with a barcode reader to complete a transaction. Customers are expected to be able to use the barcode payment capability either with their Alipay account balance or with cards from over 80 different partner banks.
Moreover, the source reports that transactions of RMB 200 or more are secured by password and users can close the account online or by calling Alipay customer service in case their phone is lost or stolen. Coca-Cola retailers are expected to be among the initial partners to accept the barcode payment mobile application feature.
The new capability is currently available to iOS, Android and Nokia Symbian users.
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