Tencent and UnionPay have agreed to integrate their QR code systems, allowing their respective customers to transfer or spend money using the same smartphone symbols, state media including Caixin reported on Jan 8, citing unidentified sources. — Bloomberg
Tencent Holdings Ltd and China UnionPay Co will soon unify the mobile codes that consumers scan to pay for purchases, granting the Chinese central bank-backed network a bigger foothold in a US$27tril (RM110.74tril) payments arena.
Tencent and UnionPay have agreed to integrate their QR code systems, allowing their respective customers to transfer or spend money using the same smartphone symbols, state media including Caixin reported on Jan 8, citing unidentified sources. Tencent representatives had no immediate comment when contacted. A UnionPay representative wasn’t immediately available to comment.
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