Mobile payment pilot project launched

15:55, March 17, 2010      

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A large-scale mobile payment pilot project based on the new generation of mobile payment solutions developed by China Unipay and other institutions has been launched in six provinces and municipalities including Shanghai, Shandong, Ningbo, Hunan, Sichuan and Shenzhen

More regions will participate in the pilot project this year and in the future, hundreds of millions of people will be entitled to more convenient, efficient and reliable payment services by swiping their mobile phones.

It is said that the new generation of mobile payment solutions developed by China Unipay provides banking services to mobile phone users by integrating the functions of mobile phones and bank cards. After becoming a registered user, customers can install financial IC cards issued by relevant banks into their mobile phones and then receive mobile payment services such as credit card payments, bank transfers and recharging via wireless communications networks. Customers will not need to change their mobile phone numbers.

Officials from China Unipay said that the mobile phone payment services have four advantages. First, it has powerful remote payment functions. It can provide all the services that online banking can provide, including cash transfers, purchase payments and account balance inquiries. Second, its payment services are more comprehensive and it supports not only small payments but also large payments. Third, the environment for using mobile phone payment services is improving. So far, the largest mobile phone instant payment merchant group of China has formed in the credit card industry, and it is expected that by the end of 2010, the number of merchants will reach 100,000. Fourth, it has secure and reliable technical support. The information transmission process of mobile phone payment services adopts the most advanced and safest encryption technology in the world, which can guarantee the security of personal accounts.

By People's Daily Online
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