CHINA UnionPay today launched a portable payment device that goes along with smart phones to allow convenient mobile payment and cross-bank transaction.

The bankcard transaction firm has been stepping up efforts to bring more consumer-oriented products as previously it had put more focus on serving vendors and extending networks at home and abroad.

Compared with other third-party payment software, smart phone users with iOS and Android operating systems can use the portable device to check the balance of their debit cards and credit cards as well as pay public utility fees and conduct real-time transfer to other China UnionPay's debit cards using the portable device.

There's no extra trouble to open e-banking service at bank outlets.

The "Colorful" swiping machine is first available at online shopping site 360Buy.com and later will be offered at more retail channels, UnionPay officials said.

Other third party payment service providers like Alibaba's Alipay and Tencent's Tenpay also offered similar cross-bank transfer services but usually the transfer will take at least one working day to arrive.

"Future models will also support IC cards and contactless payment and we'll also include more services such as online shopping in the future," Ji Xiaochang, supervisor for China UnionPay's mobile payment department.