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Samsung Electronics starts NFC payment service in China

Last week, Samsung Electronics Co., which happens to be the world’s largest mobile phone manufacturer, said that it has started near field communication (NFC) payment service for its device users in China. This was enabled by forming a partnership with UnionPay, which is China’s only credit card organisation.
By
Ash
 - 
Oct 8, 2014

 
Last week, Samsung Electronics Co., which happens to be the world's largest mobile phone manufacturer, said that it has started near field communication (NFC) payment service for its device users in China. This was enabled by forming a partnership with UnionPay, which is China's only credit card organisation.

UnionPay controls 80 percent of China's offline payment market, with 3.6 million NFC payment support readers already in the country and is expected to give Samsung a head start in the mobile payment sector.

With Tizen being seen as a good fit for China, and especially as an offering in the low end budget Smartphone segment, this move makes it a good option for busy commuters. The system is currently available for Galaxy Note 4, Note 3 and Galaxy S4 smartphones at the moment, who also have the option of using the Samsung Wallet Service that allows access to functions like membership cards, coupons and tickets.

If UnionPay forms alliances with South Korean credit card companies, Chinese nationals will be able to use NFC services when they purchase goods and services in South Korea.
 

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