What's New in Payments

Chinese banks and carriers to pilot central bank digital currency

China’s central bank likely to pilot digital currency in cities of Shenzhen and Suzhou — Coindesk — “The People’s Bank of China is said to be preparing to launch pilots for its digital currency in at least two major cities. The tests are likely to include the participation of state-owned partners. These comprise the ‘Big Four’ commercial banks — the Industrial and Commercial Bank of China, Bank of China, China Construction Bank and the Agricultural Bank of China — and three telcos: China Telecom, China Mobile and China Unicom.”











NFC World

China Mobile to drop RF SIM in favour of NFC?

China Mobile logo

China’s largest mobile network operator is coming under pressure from MIIT, the national technology regulator, to join the Chinese banks and its two rival operators China Unicom and China Telecom in adopting a single, national mobile payments standard based on NFC standard technology. More



NFC World

Chinese banks and mobile operators to create single, open platform for NFC and mobile payments services

China UnionPay logo

Eighteen Chinese banks, card association China UnionPay, China Telecom, China Unicom and a range of handset manufacturers and industry suppliers have formed an alliance in a bid to create standards and a business model for the introduction of a single, open platform that can be used by businesses throughout China to offer NFC and mobile payments services. More


NFC World

VeriFone buys stake in RF SIM supplier

VeriFone Holdings has announced that it is co-lead investor in a reverse merger financing for Trunkbow International Holdings Ltd, a Chinese mobile payments and value-added service applications company specialising in 2.4GHz (RF SIM) NFC solutions... More