China Mobile Communications Corporation has switched to the 13.56M mobile payment standard denominated by Union Pay, reports c114.net, citing an unnamed insider.
The firm had already applied the standard in its mobile payment service during the Asian Games recently held in Guangzhou.According to the insider, China mobile is preparing its facilities designed for 2.4G, its proprietary standard, to be compatible with the 13.56M standard.
However, China Mobile had more than 20 patents pertaining to the 2.4 G standard. In May, Union Pay formed a mobile payment union with 18 commercial banks as well as China Unicom, China Telecom and mobile phone producers.
The SIM card transfer cost is 80-120 yuan, while similar costs for POS machines will be over 1,600 yuan are also making the 2.4 G standard less attractive.
At present, China has three modes for mobile payment: Independent third-party, operators led by China mobile, and Union Pay.
(C) capitalvue
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