A woman pay her bill with her smart watch via the Quick Pass payment system launched by China UnionPay at a coffee shop in Beijing in this Jan. 22 photo. Competition is intensifying in China’s payments service market as Internet firms and traditional financial institutions are vying for a slice of the market in sectors such as medical care, dining, entertainment and recreation. According to China UnionPay, transactions via its payment systems reached 53.9 trillion yuan (US$8.20 trillion) in 2015, up 31.2 percent compared with the previous year.Xinhua