Sina Tech, 5/29/12
Beijing-based e-payment service company Lakala (Beijing) E-Billing Technology & Service announced the release of a mobile phone POS terminal peripheral today. The POS terminal is priced at RMB 199, and will go on sale today. One-fourth the size of a traditional credit card reader and as thick as an average mobile phone, the terminal allows vendors to swipe all magnetic cards from Chinese banking network China UnionPay. Lakala chairman Sun Taoran said that each card-reading terminal would have a security chip installed to ensure secure transactions. The reader supports a number of products, including the iPhone and iPad, handsets from HTC (2498.TW) and the Lenovo (0992.HK) LePhone, and the Xiaomi smartphone, and allows users to check their account balances, make credit card or personal loan payments, transfer funds, and pay utility bills via their mobile browsers.
Sun said that Lakala has already formed partnerships with major e-commerce platforms including Hangzhou-based C2C & B2C e-commerce site Taobao, maternity and baby care B2C Redbaby, online shoe B2C Letao, and travel services site Qunar, all of which will add support for Lakala's payment system in their mobile client applications.