China Unicom gears up for NFC mobile wallet business
BEIJING, Sep 26, 2013 (Xinhua via COMTEX) --
China Unicom (CHU.NYSE; 00762.HK;
600050.SH) on Thursday inked an agreement with China Everbright Bank
(601818.SH) for cooperation in the mobile wallet business.
According to Lu Yimin, general manager of the telecom operator,
the company will begin a commercial promotion campaign nationwide for
its new mobile wallet product by the end of this year.
The new business is based on the near field communication (NFC)
China Unicom said in the future it would equip all of its
group-purchasing mobile phones priced above 2,000 yuan with the NFC
With bundled NFC-USIM cards provided by China Unicom, the users of
Everbright bank cards would use their mobile phone to enjoy e-bank
functions, such as consumption, account inquiry, and transfer
At present several banks have teamed up with China Unicom on the
NFC mobile wallet business, including the Bank of China (BOC;
03988.HK; 601988.SH), China Guangfa Bank (CGB), Shanghai Pudong
Development Bank (SPD Bank; 600000.SH), China Merchants Bank Co Ltd
(600036.SH; 3968.HK), China CITIC Bank, China Minsheng Banking Corp.
Ltd. (600016.SH; 01988.HK), and China Everbright Bank. (Edited by Shi
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