(Yicai Global) Sept. 28 -- Europe's largest retailer, France-based Carrefour SA [EPA:CA], has introduced its own mobile wallet dubbed CarrefourPay and joined hands with China UnionPay, a bankcard provider, to build a mobile payment ecosphere.

The firm unveiled the mobile wallet today, the same day it signed a cooperation agreement with China UnionPay in Shanghai. The pair agreed to share resources and use their respective strengths to develop together, Linkshop reported.

The cross-industry partnership will see both firms working together in such areas as general payment platforms, membership systems, secure payments, Big Data analysis and smart retail, while committing to provide customers with fast, cost-efficient services.

Carrefour can use Big Data gathered by China UnionPay to better understand consumers' demand and purchase habits and optimize its product mix accordingly to improve consumer satisfaction.

The supermarket chain will continue to explore the Chinese market and innovate in fintech. For now, it will work on improving operations and service with its national store network in a bid to develop a smart retail landscape.