Mobile Payment Industry Report, 2012-2014

Among the current mobile payment means, remote payment is widely used in China, while less than 6% of payments are realized through NFC (Near Field Communication) payment mode. Now, mobile payment transfers from PC Internet business to intelligent terminals, and most are still online or online-based businesses. On December 14, 2012, the People's Bank of China released the technical standards for mobile payment in the financial industry. 13.56MHz technical standards have been identified as mainstream mobile payment standards. In practice, NFC mobile phones are not popular yet, so it is costly to promote mobile payment by customized terminals; then, several options have arisen in China, in which Sim card solution has become a mainstream. China UnionPay and China Mobile choose Sim cards as NFC carriers; China Telecom applies low-cost SIMPASS program; China Unicom adopts NFC phone program. In the future, the penetration of NFC phones will be significantly improved, and mobile pa

Original Post China Mobile Payment Industry Report, 2012-2014