Marbridge Daily

<- November 14, 2011 ->

Rumor: China to Select 2.4GHz as Contactless Payment Standard, 11/12/11

China's Ministry of Industry and Information Technology (MIIT) and related government agencies are close to wrapping up talks begun in August and selecting the domestically-developed 2.4GHz contactless payment standard as a national standard, according to an industry source. Chinese security and telecommunications chip manufacturer Nationz Technologies (300077.SZ), the primary developer of the 2.4GHz contactless payment technology, submitted an application for the technology to become a national standard to MIIT in early November, and is currently awaiting an official decision.

Editor's Note: In China a technology selected as a national standard may be designated either as a recommended or compulsory national standard. The source mentioned above did not specify whether the 2.4GHz contactless payment standard was being considered for selection as a a recommended national standard or a compulsory national standard.

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