Apple reportedly enters m-payment deal with China UnionPay

Thursday 15 May 2014 08:24 CET | News

Apple has reportedly entered a deal with China UnionPay to integrate the banking companys services into Passbook and elsewhere, according to a report from BrightWire.

This deal is set to enable payment-by-phone at the 3 million “QuickPass” POS machines nationwide. The system is designed to follow standards set for QuickPass by the Peoples Bank of China (PBOC).

According to the source, Apple is also likely to incorporate a Near Field Communication (NFC) payment function in the next generation iPhone.

In January 2014, there were rumours that PayPal is set to gain a role in the Apple’s mobile payments service, as online media outlet reported.

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Keywords: Apple, mobile payment, m-payment deal, China UnionPay
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce