Xiaomi has announced that it will launch its own mobile payments service. The Chinese smartphone manufacturer - which is the biggest player in its home market - will partner with the country's national bank card association China UnionPay for the service. According to the company's CEO Lei Jun, Xiaomi Pay - or whatever it will be called - will be a Near Field Communication (NFC)-based mobile payments solution, just like Apple Pay. Currently, the Chinese mobile payments market is dominated by local players such as Alibaba and Tencent. Another well known Chinese smartphone vendor...
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