CHENGDU, Dec.13 (NBD) -- Except for “Quick Pass”, UnionPay is also working on mobile payments. On Monday, it released two standards relating to two-dimensional barcode payment.

Song Hanshi, the general manager of technology department of UnionPay, noted that unified security standards are conducive for UnionPay and banks to develop their barcode scanners.

NBD also noticed that third-party payment institutions such as 99Bill has claimed to support those standards. “We will promote two-dimensional barcode payment, and follow UnionPay’s standards in every consumption scenarios,” said an employment of 99Bill. “Unified barcode payment standards will help bring down barriers of different payment institutions so as to fully meet customers’ demands.”

In addition, Wang Pengbo, a senior analyst of Analysys told NBD that the competition will grow more intense as UnionPay and its member institutions are rushing to expand market. However, the two-dimensional barcode payment will remain a trend for quite a long time.