China UnionPay has collaborated with commercial banks, mobile communication operators, and mobile phone manufactures for the establishment of the Mobile Payment Industry Alliance in China.
The Mobile Payment Industry Alliance aims to break the barriers in different industries to set up a platform for communication and close coordination for Internet payment services. Parties of the alliance will jointly promote the smart card mobile payment business adopting the financial accounting and the RFID international standards on contactless communications defined by the ISO. They will also work on the mobile payment platform and technical solution that are suitable for the Chinese market.
A representative from China UnionPay said that Mobile Payment Industry Alliance is an open platform and it will continue to absorb third parties to achieve more development.
The first batch of members of the alliance includes the Industrial and Commercial Bank of China, Agriculture Bank of China, Construction Bank of China, Bank of Communications, China Unicom, China Telecom, Nokia, and Lenovo.