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Xiaomi partners with UnionPay to launch mobile payment service in China

The Xiaomi Mi 5.

The Chinese mobile payment market will have a new player soon.

According to Chinese news agency Xinhua, Xiaomi announced plans to work with UnionPay to design a mobile payment solution for its smartphones. As with most mobile payment platforms, the upcoming service will use Near Field Communication (NFC). There is no specific timeline as to when the mobile payment solution will be launched.

Currently, the Chinese mobile payment market is dominated by local players such as Alibaba and Tencent. Foreign companies have started to establish their presence in the market; Apple Pay was launched in China in February and Samsung Pay was available a month later.

Source: Xinhua via GSMArena