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What is NFC Mobile Payment and How to Use It?

Payment Savvy

Luckily, advances in payment technologies have paved the way for an improved experience at checkout, and such fast, secure, and convenient payment methods as near-field communication (NFC) entered the game. What are NFC Mobile Payments? NFC payments add immense convenience for today’s busy customers.

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UnionPay’s New Mobile Payments Partnership

PYMNTS

Smartphone maker Xiaomi is getting deeper into the mobile payments game with a well-known partner in China. The company announced a partnership with China UnionPay, China’s state-sponsored domestic bank card organization, in order to bring it its own mobile payment service.

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Mobile Payments Igniting In Russia

PYMNTS

AC&M Consulting found that the Russian mobile payments market grew by almost 40 percent in 2015, to 70.4 Only 20 percent of smartphones connected to Mobile TeleSystems (MTS) used NFC technology at the end of 2015, according to Russian newspaper Vedomosti. 2016, enabling 1,500 couriers to now accept mobile payments.

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OnePlus Brings Mobile Payment Platform To China

PYMNTS

Chinese smartphone manufacturer OnePlus said it would debut its mobile payment system this year when its OnePlus 7T series of mobile phones rolled out in September 2019. The company’s mobile payment platform is now said to be live in China, GizChina reported.

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Tencent, UnionPay Agree On QR Code Standard To Streamline Mobile Payments

PYMNTS

The collaboration will let consumers of UnionPay’s popular QuickPass app make financial payments utilizing the same technology (QR codes) that Tencent’s WeChat Pay platform also uses. Tencent and UnionPay will also work together to develop a compatible way to utilize facial recognition technology in their respective mobile payment systems.

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8 highlights from Card Forum 2019

Payments Source

Top executives from banks, card brands, credit unions, fintechs and more weighed in on the major issues and innovations for the payments industry.

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Biometric authentication gives cards a head start

Payments Source

With mobile payments and banking apps on the rise, biometric authentication is now increasingly common in consumer finance, says Fingerprints' Michel Roig.