China Mobile, Air China Partner on Mobile Payment

Ebrun, 11/28/12

Zhong-Yi Dianzi Shangwu, China Mobile's (NYSE: CHL; 0941.HK) third-party payment subsidiary, announced a partnership yesterday with Air China. As a part of the partnership, Air China's domestic website will soon support mobile payment services from China Mobile, allowing Air China passengers to complete bookings through their mobile handsets. In order to promote the partnership, the two companies will launch a joint marketing activity next month. According to industry insiders, the two companies may partner on an NFC payment solution in the future.

Zhong-Yi Dianzi Shangwu is one of China Mobile's nine vertical service bases. The company received a third-party payment license from China's central bank in late 2011.

Editor's Note: For more background on this topic, please see "PBoC Issues Third Batch of Third-Party Payment Licenses" MD 1/02/12 issue.

Keywords: Zhong-Yi Dianzi Shangwu China Mobile wireless mobile payment Air China CHL third-party payment 0941.HK Near Field Communication contactless payment

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