China UnionPay and China Unicom have signed an agreement in Beijing to form a strategic partnership to implement comprehensive cooperation in the financial payment and communication service sectors.
Under the agreement, the Chinese bank card organization China UnionPay and the Chinese telecom operator China Unicom will make full use their respective networks, clients and channel resources to realize overall cooperation in various sectors, including mobile payments, fixed line payments, value-added services, e-commerce, information services, information technology security, and the issuance of a co-branded card, to jointly promote each other's business development and product expansion.
Based on China UnionPay's cross-bank trading system and China Unicom's communication network, the two parties will boost the development of innovative payment methods such as smart card mobile phone payments, fixed telephone payments, and Internet payments. They will implement trial use of smart card mobile phone payment service in areas with mature conditions to promote the nationwide launch of this mobile payment service.
In addition, focusing on the mobile e-commerce in the 3G age, the two parties will cooperate in multi-channel payment, logistics, and payment certification to establish and optimize the environment of China's mobile e-commerce industry.