NFC Times Excusive Insight – China’s mobile payments market continues to heat up, with Chinese smartphone makers Huawei and Xiaomi announcing lineups of major banks as well as transit agencies participating in their respective NFC-based ‘Pays’ services.
Both OEMs are seeking to keep pace with Apple and all three are working with payments network China UnionPay, as the device makers, banks and network try to stay competitive in the mobile payments market with Internet and messaging giants Alipay and Tencent Holdings.
Alipay and Tencent continue to roll out QR code-based payments for in-store purchases to their massive bases of users. Samsung has also launched its Samsung Pay service in China with UnionPay and banks using NFC and its proprietary MST technology, but Samsung’s wallet app also supports Alipay.