Huawei launches Chinese NFC payments service

Huawei launches Chinese NFC payments service

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.

Comments: (1)

A Finextra member
A Finextra member 23 March, 2016, 12:20Be the first to give this comment the thumbs up 0 likes

Ah, I wish I trademarked HuaPay in China when I thought of doing so...