Samsung, UnionPay launch NFC payment service in China

Friday 3 October 2014 13:47 CET | News

Samsung Electronics has partnered with Chinese bank credit card organisation UnionPay to launch near field communication (NFC) payment service for the former’s device users in China.

UnionPay users can use NFC features of their Samsung phones after they save card information via mobile apps. People using Samsungs latest Galaxy Note 4 phablet as well as the older Note 3 and Galaxy S4 smartphones can use the system.

UnionPay operates some 3.6 million NFC payment support readers in the country, enabling users to pay for a product by putting a mobile device or card near the terminal.

If UnionPay forms alliances with South Korean credit card companies, Chinese nationals are set to be able to use NFC services when they purchase goods and services in South Korea.

Besides the NFC system, Samsung already launched its Samsung Wallet service, in China early in 2014, that enables subscribers with Samsung devices to use proprietary software to manage various membership cards, coupons and tickets.

In recent news, Samsung has teamed up with PayPal to develop a mobile payments solution for smartwatch.

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Keywords: Samsung, UnionPay, NFC, payment, China, Near Field Communication, South Korean, smartphones
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce