Gemalto is collaborating with Chinas UnionPay to build a secure mobile NFC ecosystem. UnionPay is Chinas leading payment scheme and has the worlds largest network of payment cards, with more than 3.5 billion cards issued to date, as well as being a key advocate in Chinas mobile payment eco-system.
According to ABI Research, Chinas mobile commerce market is expected to become the worlds largest by 2014, with an estimated $8 billion worth of transactions conducted via NFC.
The collaboration covers key deployment issues, including TSM interoperability, security and operational guidelines as well as technology standards and specifications. The consultation is paving the way for UnionPay to develop their vision of constructing a future-proof NFC ecosystem for their issuer banks, as well as enable their cardholders to conveniently enjoy secure yet convenient mobile contactless services.
We believe that mobile payment has enormous potential in China. UnionPay is a staunch supporter of payment innovation and mobile payment is an integral part of our endeavors, explains Chai Hong Feng, EVP of UnionPay.
Gemalto has a wealth of experience in NFC and mobile payment deployments worldwide. Therefore, our co-operation leverages the strengths of Gemalto and UnionPay to provide customers with greater payment convenience. As a leading bankcard association, UnionPay will continue to work closely with commercial banks, mobile operators and service providers to drive innovation and build a safe and convenient NFC mobile payment ecosystem.
Gemalto is also launching its LinqUs Mobile Wallet with a complete suite of secure software solutions that enables a range of NFC services, mobile banking, mobile payment and loyalty programs, all integrated in a single wallet.
Interest in mobile financial services is accelerating due to the convenience and added user-engagement that they provide, said Jean-Claude Deturche, Gemalto Senior Vice President, Mobile Financial Services. By offering a rich suite of front-end mobile applications, through which end users can access the services delivered by our powerful servers, the Mobile Wallet sets new standards in terms of choice, flexibility and freedom to tailor solutions to individual requirements.