Watchdata wristband swipe pays for subways, buses

Editor's Note: In this ongoing series on the birth and growth of privately owned Chinese companies that are redefining innovation, China Daily profiles Watchdata Technologies Ltd, a Beijing-based payment security solution provider that is shifting its focus from selling to large State-owned enterprises to consumer markets.

Facing numerous copycats and shrinking markets, Watchdata Technologies Ltd, a Beijing-based payment security solution provider, had no choice but to explore the consumer market.

Established in 1994, the company has focused on payment and trading safety, including chip cards and smart cards for banks, public transportation companies and mobile communication service providers.