TMCNet:  China Telecom Arranges Mobile Phone Swiping Payment Service

[December 10, 2012]

China Telecom Arranges Mobile Phone Swiping Payment Service

BEIJING, Dec 10, 2012 (SinoCast Daily Business Beat via COMTEX) -- The reporter learnt from the payment subsidiary under China Telecom Corporation Limited (SEHK: 0728 and NYSE:CHA) that the parent company was distributing its payment service via mobile phone swiping in Beijing.

Previously, the company has realized large-scale application of such business in several provinces. The reporter also learnt that after changing their SIM cards for those with near field payment function, China Telecom's mobile phone users can make payment by swiping mobile phones on the card swiping reader connected with UnionPay POS machine.

Currently, China Telecom has launched large-scale experiment on this payment model in several provinces including Sichuan, and has seen over 9,000 POS terminals that support payment by swiping mobile phone in large chain supermarkets, gas stations, etc.

Source: (December 10, 2012)

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