According to a new report from China Business News, a new mobile payments service dubbed ‘Android Pay’ is coming, and will likely launch in Q3 of 2015.
Android Pay is reportedly being developed by China UnionPay, a Chinese bank card organisation. Because of China UnionPay’s extensive list of partners, Android Pay could feasibly debut with the support of more partners than Apple Pay, the source adds.
According to Want China Times, UnionPay has already approached smartphone makers including Lenovo and Coolpad. UnionPay is likely to provide subsidies to smartphone makers to ensure popular smartphones will include the technology required for Android Pay to work.
Android Pay will be similar to Apple Pay and will use near field communication (NFC) payments with Android smartphones, which will allow for wireless payments.
Apple has recently unveiled that Chinese Apple users can make payments using UnionPay’s credit cards in its App Store, a collaboration that suggests Apple could work with UnionPay to bring Apple Pay to China.
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