Reported today by Washington Post, Square, the revolutionary mobile payment service is now processing $4 million per day. China, now has over 318 millions mobile internet users, and good mobile payment solutions are definitely needed. So there is no reason we shouldn’t look at the Square.

QFPay (the Chinese name means Money Square), the Beijing-based company is rumored to provide a similar solution like Square. QFPay has been working in a stealth mode for a couple of months, just today it published several messages on Sina Weibo to introduce itself for the first time and also look for more engineers. It says,

QFPay’s official site, QFPay.net has not been launched yet, and there is almost zero information published about its bank card reader, yet. But according to an insider, he said,

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Gang Lu

Dr. Gang Lu - Founder of TechNode. He's a Blogger, a Geek, a PhD and a Speaker, with passion in Tech, Internet and R'N'R.