The two partners will jointly investigate big data and distributed ledger technology deployment in order to improve mobile banking products. Within the initiative, CUP aims to build a unified port for mobile integrated financial services, where cardholders will be able to use a QR code to spend, transfer and trade on a cloud flash payment app.
In addition, BOC will subsequently launch a promotional program of the payment system to provide customers with a “safer, more convenient and more efficient mobile payment service experience”, according to Coin Telegraph.
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