Xiaomi dives into Chinese mobile payments market

Chinese smartphone maker Xiaomi has launched its own mobile payment service in collaboration with China UnionPay.

Xiaomi dives into Chinese mobile payments market

Called QuickPass, the new system will enable users to make mobile payments at the point of sale terminals simply by holding their NFC-enabled smartphones near the reading area.

The new service will only work on Xiaomi’s latest flagship phone Mi 5, which is equipped with the NFC technology.

Product details or time of availability were not disclosed.

Chine mobile payments industry is dominating players, like Alibaba and Tencent. Apple Pay entered the country in February, while Samsung followed a month later.