China UnionPay will operate as a bankcard association, serving industry and commerce, taxation, transportation, tobacco, water, electricity, coal, gas, communications, securities, funds, insurances, aviation and lottery markets.
Not all of them, in fact so far very few of them, currently take payment by mobile phone. But undoubtedly it will eventually happen and we will wonder how we did without it.
The problem is simple. If you lose your mobile phone you lose, effectively, a wallet full of credit cards. Therefore users will have to be very careful where and how they keep their mobile telephone. But it means that bit by bit the mobile telephone is becoming the "everything" machine.
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