Unicom rolls out mobile banking services
By Yu Chen (China Daily)
Updated: 2004-12-11 10:33

China United Telecommunications Corporation (China Unicom), the country's second largest mobile operator, pledged to roll out more value-added telecom services to better meet customer demands.

Working with China Construction Bank (CCB), the company kicked off new mobile banking services on Thursday.

"It's part of our increased efforts to provide more value-added telecom services to our customers," said Chang Xiaobing, the newly-appointed board chairman of China Unicom.

Based on China Unicom's CDMA 1X network and CCB's electronic banking system, the marriage between the two marks a revolutionary stage for the mobile banking services, he said.

According to Chang, China Unicom's CDMA subscribers with accounts at the CCB will be able to conduct banking services via their mobile phones.

Except for withdrawing actual cash, most of the banking services which are usually made on counters can be done via mobile phones, including checking accounts; transferring or remitting funds and bill payments.

"By offering great convenience to our customers, I believe the mobile banking system will become a good supplement to the existing traditional banking services and online banking services," Chang said.

"We believe the mobile banking system is very promising thanks to the large customer potential and its technologies," he said.

In another development, Chang said mobile banking services are likely to boost an industrial value chain as the services involve various service providers such as equipment manufacturers, handset makers, software developers and content providers.

(China Daily 12/11/2004 page5)

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