Bank of Shanghai strikes deal with China Mobile

Agreement will enable Bank of Shanghai to promote China Mobile's mobile payment services.

China Mobile is expected to reach an agreement with Bank of Shanghai on the promotion of its mobile payment business, reports Chinabyte.

China Mobile started the pilot program of its mobile payment business in Shanghai in September 2009. It launched the “Expo Express” mobile payment business on 25 January 2010, as stated in a Capital Vue report.

According to the report, more than 1,400 stores in Shanghai accept payment via mobiles. Mobile payment services are available in 11 subway lines in Shanghai and in the city's Expo express buses.

China Mobile currently has about 130,000 users of its mobile payment services. The company expects to have more than 200,000 users of its mobile payment services before the end of the year.