Number-based m-payment launched in China

Eden Estopace
Retail Tech Innovation
Chinese payment services provider YSPay has rolled out a new mobile payments solution that uses phone numbers to process payments.
 
Developed with Accenture and launched at Sibos in Dubai, the solution allows YSPay customers – consumers, banks and merchants – to process payments with any type of mobile phone.
 
It uses the Accenture Mobility platform to connect with banks via China UnionPay – China’s bank card association –and with existing YSPay merchants who have point-of-sale machines in place, as well as with additional merchants such as call centers and mobile top-up service providers.

YSPay said that through its established alliances with China’s major mobile phone operators, the mobile payments solution covers most mobile subscribers in China.
 
“Relying on Accenture’s global experience in providing mobile services, we believe that the new mobile payments platform will measure up to world standards,” said YSPay’s chief executive officer Zhang Changjiang.
 
Accenture is also providing application outsourcing services to YSPay, including the ongoing maintenance of the platform and any future enhancements agreed by both parties.
 
YSPay was established in 2000, and has grown to have more than 500 employees and $32 million in reported revenue last year.
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