SEOUL, KOREA - Samsung Electronicsjoined hands with China’s largest credit card company to launch the mobile paymentservice.Samsung announced on October 2 that it released an NFC-using mobile paymentserviceby forming a partnership with China’s UnionPay.
At the Samsung MobileUnpack event for the releasing of Galaxy Note 4, held in Beijing a month ago,the two parties announced that they will cooperate in mobile paymentarea.
UnionPayis China’slargest card company with an 80-percent share in China’s offline paymentmarket.At present, Union Pay has more than 3.6 million NFC paymentmachines.
Samsung Electronics hasbecome the world’s first smartphone company to launch NFC paymentservice inChina through the cooperation with UnionPay.In February, Samsung Electronicsalso launched Samsung Wallet service in China that is designed to make it moreconvenient to manage tickets, coupons, and membership cards.