China Mobile Payment Players Form M-Payments Alliance

Want to accept Debit and Credit Cards at Card Present Rates?

CircleSwipe Can Save You Big on Interchange Fees

Finextra is reporting that 18 Chinese banks, along with China UnionPay, China Mobile, China Unicom and a range of handset manufacturers and industry suppliers have formed an alliance in a bid to create standards and a business model for the introduction of a single, open platform that can be used by businesses throughout China to offer NFC and mobile payments services.

CHINESE PLAYERS FORM M-PAYMENTS ALLIANCE

Card network operator China Unionpay has signed up a group of the country's banks, wireless operators and handset manufacturers to a mobile payments industry alliance that will establish standards and a business model.



More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=21387

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China Mobile Payment Players Form M-Payments Alliance

Want to accept Debit and Credit Cards at Card Present Rates?

CircleSwipe Can Save You Big on Interchange Fees

Finextra is reporting that 18 Chinese banks, along with China UnionPay, China Mobile, China Unicom and a range of handset manufacturers and industry suppliers have formed an alliance in a bid to create standards and a business model for the introduction of a single, open platform that can be used by businesses throughout China to offer NFC and mobile payments services.

CHINESE PLAYERS FORM M-PAYMENTS ALLIANCE

Card network operator China Unionpay has signed up a group of the country's banks, wireless operators and handset manufacturers to a mobile payments industry alliance that will establish standards and a business model.



More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=21387

Related articles by Zemanta

• Apple's lack of a China strategy - Paul Denlnger (chinaherald.net)


• Explanations For Apple's China Success. (chinalawblog.com)


• PayPal Teams With China UnionPay (online.wsj.com)


• Mobile Payments Market to Quadruple by 2014, Reaching $630bn in Value, Accounting for Around 5% of Ecommerce Retail Sales (prweb.com)

Alibaba Said to Buy into Minsheng Banking

HANGZHOU, Apr 20, 2010 (SinoCast Daily Business Beat via COMTEX) --



Alibaba.com, the biggest B2B Web marketplace in China, is said to buy into China Minsheng Banking Corp. (SHSE: 600016 and SEHK: 1988).

Via the deal, its online payment platform Alipay.com will gain a payment-related license. 

In order to enter the domestic mobile payment sector, China Mobile Ltd. (SEHK: 0941 and NYSE: CHL), the nation's biggest mobile phone operator, entered into a strategic partnership with Shanghai Pudong Development Bank (SPD Bank and SHSE: 600000), a city-level commercial lender in Shanghai, the financialhub of China, earlier this year. China Unicom (Hong Kong) Ltd. (NYSE: CHU, SEHK: 0762 and SHSE: 600050), another leading Chinese telecommunications carrier, also reached an agreement with Bank of Communications (BoCom, SEHK: 3328 and SHSE: 601328), the fifth-biggest commercial lender in China, recently.



There is no smoke without fire, said industry experts, despite that both Alibaba.com and Minsheng Banking denied the report. Notably, an online banking interlink and intercommunication application system by the People's Bank of China, the central bank, will be formally launched in August. Alipay.com, together with other independent third-party payment platforms, may be suspended to access into the system. In order to avoid the situation, Alibaba.com is likely to team up with a bank to gain a payment-related license for the unit.

Source: www.hexun.com (April 20, 2010)

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Alibaba Said to Buy into Minsheng Banking

HANGZHOU, Apr 20, 2010 (SinoCast Daily Business Beat via COMTEX) --



Alibaba.com, the biggest B2B Web marketplace in China, is said to buy into China Minsheng Banking Corp. (SHSE: 600016 and SEHK: 1988).

Via the deal, its online payment platform Alipay.com will gain a payment-related license. 

In order to enter the domestic mobile payment sector, China Mobile Ltd. (SEHK: 0941 and NYSE: CHL), the nation's biggest mobile phone operator, entered into a strategic partnership with Shanghai Pudong Development Bank (SPD Bank and SHSE: 600000), a city-level commercial lender in Shanghai, the financialhub of China, earlier this year. China Unicom (Hong Kong) Ltd. (NYSE: CHU, SEHK: 0762 and SHSE: 600050), another leading Chinese telecommunications carrier, also reached an agreement with Bank of Communications (BoCom, SEHK: 3328 and SHSE: 601328), the fifth-biggest commercial lender in China, recently.



There is no smoke without fire, said industry experts, despite that both Alibaba.com and Minsheng Banking denied the report. Notably, an online banking interlink and intercommunication application system by the People's Bank of China, the central bank, will be formally launched in August. Alipay.com, together with other independent third-party payment platforms, may be suspended to access into the system. In order to avoid the situation, Alibaba.com is likely to team up with a bank to gain a payment-related license for the unit.

Source: www.hexun.com (April 20, 2010)

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• China Mobile to Buy Bank Stake (online.wsj.com)


• China Mobile to Buy $5.9 Billion Pudong Bank Stake, Guotai Says (businessweek.com)