Rumor: China Unicom Drafting 2.4GHz Payment Standard

CCTIME, 5/26/10

According to industry sources, China Unicom (NYSE: CHU; 0762.HK; 600050.SH) recently began quietly drawing up standards for 2.4GHz-based RF-SIM payment, and the operator has made clear that it plans to purchase 1 mln RF-SIM card products by the end of the year. The RF-SIM cards bought through this procurement will be used mainly for applications unrelated to payment, such as door security and personal identification, and will initially be promoted mainly on college campuses.

A source who wished to remain anonymous explained that Unicom chose the 2.4GHz payment standard due to its advantages in short- to mid-range communications, offering a broader range of potential applications for contactless payment.

China Telecom (NYSE: CHA; 0728.HK) has also begun promoting 2.4GHz-standard payment services on some southern university campuses.

Keywords: China Unicom wireless contactless payment 0762.HK 600050.SH CHU RF-SIM

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