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China UnionPay launch Quick Pass mobile payment service
China UnionPay, China’s largest payment and clearing network, joined with more than 20 lenders to introduce Quick Pass, a new mobile payment service, in a bid to win back market share from third-party payment leader Alibaba Group’s Alipay affiliate. Using NFC (near-field communication) technology, UnionPay’s service lets users pay for purchases by tapping their smartphones [...]
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