(Yicai Global) May 9 -- Units of Tencent Holdings Ltd. and GRGBanking Equipment Co., one of China's biggest manufacturers of self-service bank equipment, will work together to upgrade ticketing and passenger experience on Shenzhen's subway system in China's southern Guangdong province.

GRGBanking Intelligent Co. will join up with Shenzhen Tencent Computer System Co. and fintech subsidiary Tenpay Payment Technology Co., will upgrade metro system servers, install a cloud management system, and introduce new payment services based on QR-codes, the Guangzhou-based firm said.

The company expects to bring in CNY18.8 million (USD3.0 million) in revenue when the project is completed, without mentioning Tencent's expected earning.

GRGBanking has implemented its internet-based rail transit, fare collection and check-in equipment in many cities nationwide. The company also produces smart vending-machines and self-service customer service machines.

Editor: William Clegg