China Mobile Payment Players Form M-Payments Alliance

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Finextra is reporting that 18 Chinese banks, along with China UnionPay, China Mobile, China Unicom and a range of handset manufacturers and industry suppliers have formed an alliance in a bid to create standards and a business model for the introduction of a single, open platform that can be used by businesses throughout China to offer NFC and mobile payments services.

CHINESE PLAYERS FORM M-PAYMENTS ALLIANCE

Card network operator China Unionpay has signed up a group of the country's banks, wireless operators and handset manufacturers to a mobile payments industry alliance that will establish standards and a business model.



More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=21387

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