A rumor going around suggests that SPD Bank and China Mobile will collaborate to form a contactless payment solution that could launch as soon as the third quarter.
The platform would use the Chinese UnionPay system that is in place. The overall plan for the platform is to link user identity data, mobile phone numbers, and bank account numbers together so that you can utilize the service to pay from your mobile device from almost anywhere.
To get up and running, the service would require a small application install on current handsets, and POS terminals would need to be upgraded as well, reports marbridgeconsulting.com.
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