PHOENIX — Chinese regulators said on Monday that they have approved a new smartphone app that can be used to pay for food and drinks with a smartphone.
The new app, called “pho 4” (pho means 4 in Chinese), has been dubbed by its Chinese online community as the “world’s first mobile payment platform,” the People’s Daily reported.
It was launched on Monday in a city near Beijing.
“The new mobile payment app is expected to be rolled out to more than 1.3 billion people in 2018,” the Chinese Daily said.
More to come.