Rumor: China UnionPay to Launch Android NFC Payment Service

Leiphone, 11/25/14

China's cross-bank transaction processor China UnionPay is reportedly promoting a new "Android Pay" mobile payment service to Chinese Android-based smartphone manufacturers, according to industry insiders. Like US handset maker Apple's mobile payment service, Android Pay uses fingerprint verification and Near Field Communication (NFC) to process offline payments and may be launched as soon as Q3 2015. A handful of Chinese handset manufacturers confirmed UnionPay's actions without discussing a definite timeline for the release of the service. Shenzhen-based handset maker Coolpad (2369.HK) is preparing to launch a high-end smart phone with fingerprint and NFC capabilities that is rumored to support UnionPay's "Android Pay."

Editor's Note: For more information on this topic, please see "Apple Adds UnionPay Support for China App Store," MD 11/17/14 issue.

Keywords: wireless mobile payment China UnionPay

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