China is testing a mobile payment platform that can replace cash and cards

Mon 17 Feb 2014

China established the first national mobile payment platform based on NFC-technology to improve the information consumption. The platform is already connected to the mobile payment industry of seven financial organizations, including China Construction Bank, China CITIC Bank, China Everbright Bank, China UnionPay and China leading mobile operator China Mobile.

The platform provides a solid foundation for infrastructure, will help to improve information consumption in the country and gives a new push to economic growth.