UnionPay Partners With Smartphone Brands In Bid For China's Online Payment Market -- Could It Work?

China’s state-owned clearing network UnionPay is partnering with some of the world’s biggest smartphone brands to launch mobile payment services in the country. But allying with Apple, Huawei, Samsung and Xiaomi is doing little to overturn the market dominance of Alibaba and Tencent. Last year UnionPay lost at least $22 billion [...]

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