UnionPay and China Mobile to promote mobile payment

BEIJING - Chinese payment network operator UnionPay will work with China Mobile, the world's largest mobile network operator, to promote mobile payment methods, the two companies announced Friday.

The companies' Trusted Service Manager (TSM) platform will be used to facilitate mobile payment, according to a statement from both companies.

The creation of the platform marks the first significant achievement since both companies signed a cooperative agreement in June 2012, the statement said.

The platform will allow UnionPay and China Mobile to explore the application of more payment functions via mobile terminals, allowing users to use remote payment services through their mobile devices.