Alipay launches NFC tap-to-pay feature to streamline transaction process.

Summary: Alipay introduces NFC Tap-to-Pay, streamlining the transaction process. Simply tap your phone against a merchant's device to complete payment, with no password required for transactions under 1000 yuan. Enhanced security measures include password, fingerprint, or facial recognition confirmation for larger transactions. Shanghai's Jing'an Joy City has already adopted this technology.

Explanation:

• NFC (Near Field Communication): A wireless communication technology that enables devices to exchange data over short distances (typically a few centimeters).
• Tap-to-Pay: Utilizing NFC technology, users can complete payments by simply tapping their phone against a merchant's device, eliminating the need to open an app or enter a password.