Samsung and UnionPay to Launch NFC Payment Service in China
Marco Foronda | | Oct 07, 2014 11:55 PM EDT |
(Photo : hothardware.com)
Samsung Electronics partnered with UnionPay to launch a mobile payment service in China that uses near field communication (NFC), reports said.
During Samsung's global release conference in Beijing early September, the electronic company announced its alliance with UnionPay, China's largest payment card company, in the mobile payment area.
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Samsung is the first handset manufacturer to collaborate with China's only domestic bank card company in the NFC mobile payment service.
The partnership aims to help Samsung secure a leading position in the Chinese mobile payment market, reports said.
According to a Samsung spokesperson, the company will provide all financial services that use a mobile device with UnionPay, not only for NFC payments.
NFC is a technology that allows two devices to share information and exchange data when in close proximity to one another. People can easily make payments through mobile devices at affiliated stores in China through NFC-enabled terminals.
Over 3.6 million Samsung smartphones in China have NFC as a built-in feature. Users can use the NFC payment system on their handsets.
UnionPay customers can use the NFC payment system on their Samsung phones after saving their card information on mobile applications.
Users can also use the payment system with their Galaxy Note 4, Note 3, and Galaxy S4 handsets by registering with China Unicom, a Chinese state-owned telecom operator.
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