According to the source, the two companies are set to enable users to employ mobile handsets for payments as well as integrate users’ banking details into SIM cards for long-distance mobile payments, such as credit card bills, utility bills and online shopping.
For NFC payments, the companies plan to integrate China UnionPays contactless payment service dubbed QuickPass with China Mobiles mobile wallet services.
China UnionPay is the national bankcard association in China, responsible for operating the unified inter-bank clearing and settlement system and developing the international acceptance network for the China UnionPay card.
In recent news, online payment services provider OnePay and China UnionPay have developed technical services to start accepting online payments via UnionPay cards in Vietnam.
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