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China UnionPay launches “Quick Pass” to win back market

China UnionPay Co., the nation’s largest payment and clearing network, joined with more than 20 lenders to introduce the new mobile payment service, “Quick Pass”, in a bid to win back the market, now led by Alibaba’s Alipay service. Chai Hongfeng, Executive Vice President of China Unionpay responded in an exclusive interview with CCTV, saying that China Unionpay is looking for cooperation from outside to promote the development of the mobile payment industry.

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