Mobile Payment Alliance established in China
(18 May 2010 – China) China UnionPay has collaborated with commercial banks, mobile communication operators and mobile phone manufactures among others to establish the Mobile Payment Industry Alliance in China.
The founding of the Mobile Payment Industry Alliance is designed to break the barriers in different industries including the payment, communication, chip, intelligent card and electronic industries and form a platform for communication and close coordination.
Parties of the Alliance will jointly promote the intelligent card mobile payment business adopting the financial account and the international standard on contactless communication as defined by the ISO.
They will also co-formulate the mobile payment platform and technical solution that will suit the status quo of China and serve a wide range of application needs in society.
The Industry Alliance is also a basic service platform built up by the bank and mobile communication operators.
Users from various industries such as the bus, metro, water, electricity and gas, cinema, petrol, hospital, commercial retail and many more can all conduct convenient services based on this platform.
The Industry Alliance integrates the consumer’s need, operator’s network capability, bank’s credibility as well as seller’s marketing ability to forge a mobile electronic business circle that blends both remote and short range payment.
The first batch of members to join the Industry Alliance includes eighteen national and local commercial banks such as the Industrial and Commercial Bank of China, Agriculture Bank of China, Construction Bank of China and Bank of Communications.
Parties of the Alliance will jointly promote the intelligent card mobile payment business adopting the financial account and the international standard on contactless communication as defined by the ISO.
They will also co-formulate the mobile payment platform and technical solution that will suit the status quo of China and serve a wide range of application needs in society.
The Industry Alliance is also a basic service platform built up by the bank and mobile communication operators.
Users from various industries such as the bus, metro, water, electricity and gas, cinema, petrol, hospital, commercial retail and many more can all conduct convenient services based on this platform.
The Industry Alliance integrates the consumer’s need, operator’s network capability, bank’s credibility as well as seller’s marketing ability to forge a mobile electronic business circle that blends both remote and short range payment.
The first batch of members to join the Industry Alliance includes eighteen national and local commercial banks such as the Industrial and Commercial Bank of China, Agriculture Bank of China, Construction Bank of China and Bank of Communications.
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