UnionPay: NFC mobile payment volumes are ‘growing quickly’ in China

Apple Pay growing fast but still bit player in China: UnionPay — Caixin — “Two years after their launch in China, a group of third-party mobile payment services led by global giant Apple Inc make up only a small fraction of contactless payments in the country, but the number is growing quickly… About 20% of UnionPay’s 94tn yuan (US$14.2tn) in annual transaction volume now comes from near field communication (NFC) technology payments.”




Chinese ride hailing giant Didi Chuxing enters the payments market

Didi Chuxing picks up a payment license — Caixin — “Didi Chuxing, China’s largest ride-hailing company, is speeding into the payments business, acquiring a much-coveted license to join the red-hot internet financial-services arena. Didi has agreed to fully acquire third-party payment-services provider 19Pay for 300m yuan (US$45.4m)… Last year, the PBOC said it would control the number of third-party payment licenses issued, making it increasingly difficult to get a license.”




Apple Pay launches in China

Apple Pay has begun rolling out across China, letting consumers pay in-store with compatible Apple devices using their China UnionPay credit and debit cards at QuickPass-enabled POS terminals as well as make purchases within participating mobile apps. More




Chinese carriers’ NFC plans emerge

China Unicom and China Mobile

China Mobile, the country’s largest mobile operator, has reached agreements with subway and bus companies in 30 cities to allow users to make payments through mobile phones next year, reports Caixin Online... More


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