Chinese Card Network Forms Mobile Payments Alliance

June 1, 2010 

China UnionPay has formed a mobile payments industry alliance with a group of Chinese banks, wireless operators and handset manufacturers. China UnionPay said in the alliance’s goal is to help different industries—including transportation, commercial retail and health care—coordinate efforts to create a single, open m-payments platform. The group comprises 18 banks, including Industrial and Commercial Bank of China, Agriculture Bank of China and Construction Bank of China, mobile operators China Unicom and China Mobile, handset manufactures Nokia and Lenovo and several card and chip card producers, terminal operators, system integrators and academies.