In a bid to woo individual users, China UnionPay, the country's sole bankcard transaction settlement company, yesterday launched a portable payment device that can be attached to smartphones.
Shanghai-based UnionPay has been beefing up its presence on the retail front especially in the face of the rising number of mobile apps offered by non-financial payment firms such as Alipay, in contrast to its previous focus on serving vendors and financial institutions and building networks at home and abroad.
Smartphone users with iOS and Android operating systems can use the portable device to check the balance of their debit cards and pay credit card bills as well as public utility fees and conduct real-time transfer to other China UnionPay debit cards.
Other third party payment service providers like Alibaba's Alipay and Tencent's Tenpay also offer similar cross-bank transfer service but usually the transfer takes at least one working day to go through.
The "Colorful" swiping machine is now available at online shopping site JD.com and will be offered at other retail channels later, officials said.
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