China Mobile and China UnionPay have signed an agreement to jointly develop an array of mobile payments products and services, according to Marbridge Consulting.
Under the details of the agreement, the partners will collaborate on SIM-based payments for online shopping, bill payments and long distance mobile payments as well as NFC payments at the point of sale using China UnionPay’s QuickPass technology.
In addition, the partners say they will work together on developing NFC standards, testing NFC-enabled handsets, and creating a trusted service management platform.
The agreement also includes details for NFC payments pilots in several cities in China, with the ultimate goal of creating 100 NFC-enabled districts nationwide.
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