Chinese QR codes remain head and shoulders above NFC technology

Chinese QR Codes - Mobile Shopping and Mobile Payments

When it comes to m-commerce and mobile payments, consumers in China prefer quick response codes. Despite the fact that mobile payments based on NFC technology are present, Chinese QR codes remain most popular. Apple Pay, for example, didn’t make it into the country until 2016. This gave quick response codes lots of extra time to make it into mainstream use. Mobile payments are commonly used in China, but NFC isn’t the top tech. Two mobile payments services had been available for quite some time and used QR codes. Tencent launched…

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UnionPay QR codes to launch in all 6 AsiaMalls next year

shopping mall unionpay qr codes

The quick response code based mobile payments will allow merchants to process smartphone based transactions. Starting in 2018, UnionPay QR codes will be available in all 6 AsiaMalls shopping mall locations across Singapore. This will give consumers the opportunity to use their smartphones to be able to make mobile payments within the shopping centers. The news was released in a memorandum of understanding (MOU) from AsiaMalls Management and UnionPay International. This new partnership represents the first one a global payment brand and mall manager have launched in a large scale…

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EMVCo publishes new QR code standard for mobile payments

qr code standard mobile payments

The payment standards body released a new publication to provide technical specs for the use of quick response codes. EMVCo recently published the “EMVCo QR Code Specification for Payment Systems: Consumer-Presented Mode” as a QR code standard ahead of moving toward their use. The publication provides a definition of the way quick response codes function as a single-direction communication between a mobile app and the point of interaction. This represents the first official step forward for EMVCo when it comes to QR codes. EMVCo is a payments standards body. It…

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Apple and Samsung to bring mobile payments services to China

Apple Music app

Apple and Samsung have formed deals with UnionPay to enter China’s mobile payments market Apple and Samsung are set to compete with one another in China, which has become one of the world’s leading mobile payments markets. Both companies have managed to form deals with China’s UnionPay, one of the country’s largest banks. For Apple, this comes after a great deal of negotiation, where the company found resistance to its plans to enter into China’s mobile payments market. With an entry into the market, Apple predicts to find significant success…

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China Mobile and UnionPay reach agreement on mobile commerce standards

China Mobile commerce ticketing payments

NFC-based mobile commerce may be poised for growth in China China Mobile, one of China’s largest telecommunications operators, and UnionPay, the country’s only provider of bank cards, have reached an agreement concerning standards meant to govern NFC-based mobile payments. The two organizations have been embroiled in a disagreement concerning these standards for some time, somewhat stagnating the growth of NFC-based mobile commerce. Now that a deal has been reached between the two organizations, standards are likely to be implemented on all payment systems that involve the use of NFC technology.…

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