Business / Mobile payment

China to issue national mobile payment standard

By Shen Jingting ( Updated: 2012-10-19 16:17

Officials from the People's Bank of China said that China will issue a national mobile payment standard as early as the end of the year.

They added that that the country is likely to conduct mobile payment trials in Chengdu and Ningbo.

Li Xiaofeng, director of the IC card office with the PBOC, said that the China Financial Standardization Technical Committee had approved the national payment standard on Oct 16.

The committee is now sending documents to relevant authorities for further approval, according to a report in the Oriental Morning Post.

Li said that China would adopt the 13.56 MHz mobile payment standard, developed by China UnionPay, as its major mobile payment standard.

However, in some enclosed environments, such as in urban public transportation, the homegrown 2.4 GHz technology may also be used.

In August, Xu Luode, chairman of China UnionPay, said that the 13.56 MHz technology got the final nod from Chinese authorities.

If the decision is made, China will eventually settle down the issue after years of wrangling over a nationwide mobile payment standard.

China Mobile Ltd, the nation's biggest telecom carrier, is about to lose the battle, since the operator has been promoting its mobile payment standard, which is based on 2.4 GHz technology.

The China Financial Standardization Technical Committee said on its website that setting up a nationwide standard will help to promote and regulate China's financial mobile payment industry.


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