Hong Kong financial information company Xinhua Finance is to market and distribute Finland-based FreeStar Technology's pre-paid debit card system to banks across China.
Xinhua Finance says it has already introduced FreeStar's technology to banks in the country, including Bank of China and China Union Pay which coordinates all credit card settlements in the country.
Fredy Bush, CEO, Xinhua Finance, says: "FreeStar Technology has international-standard products which China lacks."
FreeStar says it is also looking to establish a joint venture with a Chinese bank to distribute pre-paid debit cards as a payment mechanism for the country's millions of itinerant workers. The vendor's pre-paid system consists of two cards that are linked together with a single PIN.