China Unicom and China Union Pay sign a
2010-08-06 17:03:52   来源：企业网D1Net   评论：0 点击：

China Union Pay and China Unicom has signed a cooperation agreement on the new application of credit card which will be a win-win situation for two of them.

This cooperation will push the establishment of payment system standards, meanwhile, it is a evolution of payment mode. Moreover, It is also a new business model of emerging e-business industry.

With the development of 3G technology, moblie phone is not only a communication tool but also become a personal data processing center which converges communication, internet, trade and payment functions together into one. It is a new trend in 3G industry that banking system combines with telecommunication service together. It is siginificant that to help improving their quality of services in each other’s field.

According to the agreement that they will make full use of their advantages, such as network resources, subscriber resources, channel resources. And the cooperation domain will be in mobile payment, website payment, value-added services, e-business, information services, internet and information security, and Co-Branded Card etc. There will be some new services, such as smart card cellphone payment, fix-phone payment and internet payment etc. The services will be launching first in some regions which technology is ready to start, then across China. Besides, the cooperation will be in mobile business, multi-channel payment, distrubition, payment certification as well. They plan to release a China Unicom Co-Branded card, which will supply various services for card holders.

Xiaobing Chang, the CEO of China Unicom believes that the cooperation between China Unicom and China Union Pay will create an innovative business model in China domestic telecom industry（Translated by Alice He）