Shanghai Mobile Expands RF-SIM Mobile Payment

National Business Daily, 7/06/10

On July 2, Shanghai Mobile and the Chia Tai Group held a strategic cooperation signing and launch ceremony for mobile wallet services. The mobile wallet service, based on China Mobile's (NYSE: CHL; 0941.HK) 2.4GHz RF-SIM mobile payment standard, will be activated in 21 of the Chia Tai Group's retail stores. Mao Weiliang, deputy GM of Shanghai Mobile's data division, said in an interview that China Mobile will strongly push 2.4GHz mobile payment in Shanghai and other cities, but will also consider the question of compatibility with China UnionPay's standard (13.56MHz).

Editor's Note: Previous rumors had suggested that China Mobile had called a full halt on 2.4GHz-based payment, opting for the more commonly used 13.56MHz-based standard.

Keywords: Shanghai Mobile China Mobile wireless mobile payment mobile wallet CHL 0941.HK RF-SIM Chia Tai Group contactless payment

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