Tencent has agreed to integrate part of its authentication system for mobile transactions with state-owned UnionPay, Caixin Global reported.
Once fully integrated, the partnership will allow users of China UnionPay’s QuickPass app to make payments using the same QR codes read by Tencent’s WeChat Pay platform.
This enables retailers to support a greater number of payment apps without having to display multiple QR codes and increases options for consumers.
Tencent and UnionPay will also reportedly collaborate on developing the use of facial recognition technology in mobile payment systems.
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