China UnionPay Exceeds 10M Mobile Payment Users
Chinese bank card network operator China UnionPay announced on January 29 that it added 4.95 million handset mobile payment users in 2007 to reach a total of 10 million users by the end of the year. Annual transaction volume for mobile payment, including SMS and SIM-card based POS transactions, reached RMB10.8 billion in 2007. UnionPay linked up secure payment systems with 10 national and 13 district banks last year. The company added 130,250 fixed-line payment terminals, for a total of 148,200 terminals, to record total fixed-line transactions worth RMB32.06 billion during the period.
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