China Developing National mPayments System

By  |  March 10, 2014
 | 

China is looking to create a national mobile-payment platform that would render cash, credit cards and other physical forms of payment obsolete.

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    While details of the system are unclear, RT cited China Daily as saying that China has been testing a working platform since 2013.

    The platform reportedly features Near Field Communication (NFC) chips.

    Earlier this year, a report from Maverick China Research explored the implications of China’s mobile-payment market. Read the details of that study by clicking here.

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