China Everbright Bank and China Unicom partner in mobile finance

Sign strategic cooperation agreement to develop business.

China Everbright Bank will focus on mobile payment service to facilitate near field communication (NFC) and online payment, and will push technological support and commercial applications. Its mobile payment can be applied in retail stores, public transportation, gas stations, restaurants and other locations.

Their cooperation will also target financial smart card research and development to enable cross-sector services such as paying social insurance and utility bills.

Mobile finance has become an emerging market for banks as China's cabinet in early August unveiled details of financial support for the cash-strapped small businesses, encouraging the innovation of online financial services via Internet and other new technologies.