Huawei launches Chinese NFC payments service
23 March 2016 | 7325 views | 1
Chinese handset manufacturer Huawei has teamed up with China UnionPay on an NFC-based mobile payments service, taking on a host of local rivals and Apple, according to the Wall Street Journal.
Following a pilot, Huawei is rolling out its service across China, enabling customers to make contactless payments by tapping their handsets against POS readers while pressing the fingerprint reader.
UnionPay has also teamed up with Apple, which launched its mobile payments service in China last month, and Samsung, which is planning to bring its effort to the country soon.
More generally, Web giants Alibaba and Tencent dominate the huge Chinese mobile money market. Last week figures from Tencent suggested that the firm's WeChat messaging app is on course to facilitate some $556 billion over the year in P2P payments alone.