UnionPay slips through barcode for payments pie

China UnionPay, the national bankcard association, launched on Monday its own app and security standard for two-dimensional barcode payment. It thus joined existing players Alipay and WeChat Pay in the internet-based mobile payments segment. Song Hanshi, general manager of UnionPay's technology department, said it will adopt unified technical solutions to achieve interconnectivity among different financial institutions and to ensure consistency in user experience.