China UnionPay has planned to develop an Android-based Chinese payment app, called AndroidPay, to cater to the payments industry in Asia.
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The Android payment app, which is still under development, will be launched in the third quarter of 2015, reported Chinese media sources.
AndroidPay will adopt a similar model as ApplePay service using fingerprint recognition plus Near Field Communication (NFC) to facilitate secure payments at the point of sales.
UnionPay, in a move to compete with fast-growing third-party-payment processors like Alibaba Group’s Alipay, has approached smartphone makers Coolpad and Lenovo about supporting the app on their phones.
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By GlobalData
