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Deal Signed for Cloud-Based POS Platform

  • ZDNet, Wednesday, October 29, 2014 12:47 PM

Australian-listed mobile commerce company 99 Wuxian has signed a deal with Chinese bankcard association China UnionPay to launch a new cloud-based point-of-sale (POS) platform. The Australian Securities Exchange (ASX)-listed mobile commerce company, which operates a mobile online marketplace in China, told shareholders on October 28 that the new payment platform would be jointly developed, maintained, and promoted by the two companies. "This is a landmark agreement, as China UnionPay is the only bankcard organisation and interbank network in China," 99 Wuxian said in a statement (PDF). 99 Wuxian said that China UnionPay has more than 4.5 billion bank cards under issue and more than 400 Chinese and overseas associate members, and its cards can be used in 141 countries and regions around the world.

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