November 15 -- The Guangdong branch of Shanghai Pudong Development Bank (600000.SH) and China Mobile (0941.HK) rolled out credit and debit cards in Guangzhou which support the mobile electronic payment of small amounts, reports Southern Metropolis Daily.

According to a product manager at the bank, the jointly developed cards are the first tangible product of the strategic alliance between the two parties.

China Mobile had become Shanghai Pudong Developmen Bank's second-largest shareholder last year with a 20 percent stake, following the completion of the bank's private placement.

The two companies will further their cooperation, and plans to provide notification services via text messages to mobile phone users in Shanghai.

It was reported that the focus of cooperation will be in the mobile finance and mobile e-commerce fields.
 

Source:CapitalVue