China Mobile (CHL) Ups Ante in Mobile Payments as Verifone (PAY) Limps into Weekend

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According to reports this morning, China Mobile (NYSE: CHL) will work with China payment operator UnionPay to promote mobile payments. According to a statement, the two companies will use a platform called Trusted Service Manager, and will push for services to allow payments via mobile terminals.

The news in an interesting development given Verifone's (NYSE: PAY) selloff yesterday.

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