Tencent and China UnionPay to integrate QR codes to streamline payments
The tie-up may help UnionPay, a network set up by top lenders, to gain in a market long dominated by Tencent and digital wallet Alipay
08 January 2020 - 16:56
Tencent and China UnionPay will soon unify the mobile codes that consumers scan to pay for purchases, granting the Chinese central bank-backed network a bigger foothold in a $27-trillion payments arena.
Tencent and UnionPay have agreed to integrate their QR code systems, allowing their respective customers to transfer or spend money using the same smartphone symbols, state media including Caixin reported on Wednesday, citing unidentified sources...
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