PreCash Inc., a provider of bill payment services to the unbanked, plans to offer its service in China.
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The Houston company said last week that it had created a joint venture called China eCash that already has contracts with two major mobile service providers, China Mobile and China Unicom.
PreCash's bill pay cards store account numbers with their billers but do not hold funds. The company's 5 million U.S. customers use the cards for self-authentication when paying bills in person.
PreCash also offers a stored-value card.
China eCash is based in Beijing. More than 55,000 Chinese retailers have agreed to offer the cards to consumers in five provinces.
