Hunan Mobile, Mall Sign Mobile Payment Deal

People's Posts and Telecommunications News, 6/18/09

Hunan Mobile recently signed a strategic electronic business cooperation agreement with leading Hunan retail mall chain Hunan Friendship & Apollo Co. The deal will allow China Mobile (NYSE: CHL, 941.HK) subscribers to utilize phone credit when making payments at Friendship & Apollo stores. Guo Xiaoming, vice president of Hunan Mobile, stated that China Mobile subscribers need only upgrade to a SIM card equipped with mobile payment functionality and activate an electronic account to become a China Mobile e-commerce payment subscriber. Numerous retailers are currently in talks with Hunan Mobile regarding similar cooperative arrangements.

HNII also reports that Hunan Mobile signed an agreement with Hunan-based supermarket and consumer electronics retail chain Better Life Commercial Chain Share Co. (a.k.a. Bubugao) (002251.SZ) under which both sides will enable shoppers to make mobile payments at over 100 Better Life stores in the province.

Keywords: China Mobile CHL Guo Xiaoming Hunan Mobile mobile payment retail SIM card wireless 0941.HK Bubugao 002251.SZ

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