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Chinese handset maker Huawei Technologies Co. is beefing up its mobile-payment service in China, creating yet another local competitor to Apple Pay in the world’s largest smartphone market. 
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Scoop.it!
Global payment operatorMasterCard Inc sees double-digit annual growth in creditcard transaction volumes in China, lifted by the boominge-commerce industry in the world's second-largest economy, asenior executive told Reuters on Monday.
Vineet Anand's insight:
Singles Day festivity grabbed $14.32 billion in a single day in China for Alibaba overshadowing the US Cyber Monday of $2.68 billion (2014). Growth in mobile commerce across China is driving growth for networks including MasterCard, limited by ability to acquire cross-border transactions, too. Opening up the monopoly from CUP to other networks will lead to a competition and benefit merchants / consumers in big way!
Scoop.it!
Vineet Anand's insight:
Tencent's foray into developing an operating system TOS+ for a greater stronghold on its 1 Billion WeChat and QQ users!
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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Meet HuaPay (might be HuPay) - competitor to ApplePay in NFC transactions using mobile phone in its recent CUP partnership. HuaPay phones with fingerprint scan and NFC chips for tap and go eperience. Alipay and TenPay dominate the mobile payments space though their solutions are QR based for retail and have dominant presence in on-demand services with Alipay holding 70% marketshare vs. 19% for TenPay.
Samsung Pay will appear in the China market soon, was slated for early 2016 in China and Honh Kong.