皇冠体育app

Cameramen focus on Xiaomi's new tablet at the device's unveiling event?on May 15, 2014 in Beijing. [Photo provided to 皇冠体育app Daily]

BEIJING - Chinese smartphone maker Xiaomi has announced plans to work with national bank card association 皇冠体育app UnionPay to grab a bigger share of the growing mobile payment market.

The two parties will design a mobile payment product for Xiaomi's smartphones, Xiaomi said on Thursday night without specifying a timetable.

Xiaomi CEO Lei Jun said the company, the biggest seller of phones in 皇冠体育app last year, will develop Near Field Communication (NFC) for safe and convenient mobile payment services.

Xiaomi and 皇冠体育app UnionPay have already collaborated to offer mobile payment functions with the latter's QuickPass service, which allows users to complete transactions by placing their mobile phones near the card slots or the NFC reading areas of compatible point-of-sale (POS) terminals.

Last year, 620 million people in 皇冠体育app, or more than 90 percent of the nation's Internet users, used a phone or tablet to get online, according to the 皇冠体育app Internet Network Information Center. Research firm Analysys valued the country's third-party mobile payment market at 16.36 trillion yuan ($2.52 trillion) in 2015.

While Chinese Internet giants Alibaba and Tencent dominate mobile payments in the world's largest smartphone market, foreign players are also rushing in. Apple Pay became available in 皇冠体育app in February and Samsung's mobile payment service Samsung Pay was launched in 皇冠体育app in late March.

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