China’s leading smartphone maker ZTE releases its first mobile payments product ZTE Pay

ZTE
From Baidu Images.

ZTE, one of China’s largest smartphone makers, launched its first mobile payment product ZTE Pay on Wednesday in Beijing, reports NetEase Tech.

In a similar move to Apple Pay, who recently announced it would cooperate with China’s Unionpay to tap into the Chinese market, ZTE Pay is built on Near Field Communication (NFC) technology. ZTE also has integrated similar services to competing Chinese platforms Wechat Wallet and Alipay, including utility fee payments, financial services, restaurant searching and group-buying among other things. According to ZTE, ZTE Pay will go even further bringing in bus passes and ultrasonic wave ads and push services.

ZTE says ZTE Pay users will be able to swipe their mobile phones to make payments with attached electronic bank cards and bus cards downloaded onto their phones.

ZTE Pay makes it possible for users to swipe cards when mobile phone screens are locked, which means users won’t need to bother clicking the app or opening their screens. Users are able to use ZTE Pay to add value to bus cards of their own and their families.

Notifications and ads pushed by ultrasonic wave, have yet to be tested and will likely be tested in real market conditions in the future.

According to reports by other Chinese media outlets, ZTE said ZTE Pay will in the future partner with the Cloud Quick Pass product of UnionPay.

Last week, both Apple and Samsung announced they would cooperate with China’s UnionPay, attempting to venture their business into China’s mobile payments market. The mobile payments market in China is currently dominated by China’s internet giants, namely Alibaba-backed Alipay, Tencent-backed Wechat Wallet, and late comer Baidu with Baidu Wallet.

AllTechAsia Staff

AllTechAsia is a startup media platform dedicated to providing the hottest news, data service and analysis on the tech and startup scene of Asian markets in English.

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