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High hopes for mobile payment
By Zhu Shenshen |
June 21, 2012, Thursday
|
Online Edition
Online Edition
MOBILE payment, with support from industry leaders like China Mobile, China Union Pay and MasterCard, is expected to become commercially mature in China during the second half of this year, Shanghai Daily learned at Mobile Asia Expo today.
Mobile payment, which allows users to pay bills, buy film tickets and check bank balances directly on mobile devices, will greatly improve the user experience of more than 1 billion Chinese handset users and boost consumption, industry insiders said.
China Mobile and China Unicom, the top two mobile carriers, both showcased mobile payment services and devices in their booth as Mobile Asia Expo opened on Wednesday in Shanghai.
China Mobile, which paid 40 billion yuan (US$63 billion) to acquire a 20 percent stake in Shanghai Pudong Development Bank, has introduced phones with payment functions, which allow users to "purchase a cup of coffee through a swipe of the phone."
The carrier also announced today it will support China Union Pay's mobile payment standard, which ended a long struggle between two sides.
"The convergence of mobile operators and finance firms will create various revolutionary mobile payment applications in the near future," Xi Guohua, China Mobile's chairman, said during a forum at the expo.
Mobile payment, which allows users to pay bills, buy film tickets and check bank balances directly on mobile devices, will greatly improve the user experience of more than 1 billion Chinese handset users and boost consumption, industry insiders said.
China Mobile and China Unicom, the top two mobile carriers, both showcased mobile payment services and devices in their booth as Mobile Asia Expo opened on Wednesday in Shanghai.
China Mobile, which paid 40 billion yuan (US$63 billion) to acquire a 20 percent stake in Shanghai Pudong Development Bank, has introduced phones with payment functions, which allow users to "purchase a cup of coffee through a swipe of the phone."
The carrier also announced today it will support China Union Pay's mobile payment standard, which ended a long struggle between two sides.
"The convergence of mobile operators and finance firms will create various revolutionary mobile payment applications in the near future," Xi Guohua, China Mobile's chairman, said during a forum at the expo.
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