[December 03, 2010] China Unicom, Industrial Bank cooperate in mobile payment service Tweet BEIJING, Dec 03, 2010 (Xinhua via COMTEX) -- China Unicom (CHU.NYSE; 00762.HK; 60005 0.SH), China's second largest wireless operator, had signed a strategi c agreement with Industrial Bank, targeting at cooperation in mobile p ayment and mobile banking services. China Unicom President Lu Yimin, who attended the signing ceremony held on November 30, said the company will provide a pack of telecom i nformation solutions to Industrial Bank and work together with it on m obile payment services. Li Renjie, President of Industrial Bank said that the cooperation w ill further promote the Industrial Bank's services in mobile payment a nd mobile banking with the aid of China Unicom's technical expertise. Mobile payment services have been in hot pursuit in recent years as the country embraces increasing number of mobile users. Earlier in November 2008, China Unicom had signed a strategic coope ration with China UnionPay to develop business in financial payment an d telecom services. China UnionPay, the only interbank network in China, announced to e stablish a "Mobile Industry Payments Union" in May this year with 18 c ommercial banks including Industrial and Commercial Bank of China, Agr icultural Bank of China and China Construction Bank. Currently, there are more than 20 million users of UnionPay mobile payments and in the first half of this year, and the number of transac tions surpassed 65 million with the value exceeding 23 billion yuan, a ccording to data released by China UnionPay. Meanwhile, China Mobile, the world's largest mobile carrier, had si gned an agreement of cooperation with the Shanghai Pudong Development Bank (SPDB) (600000.SH) on November 23 in areas of mobile finance and mobile e-commerce. The two companies will also cooperate in mobile phone on-site and r emote payment, as well as in sharing customer services and channels re sources. (Edited by Gaoyuan, [email protected]) [ Back To TMCnet.com's Homepage ]