China UnionPay has selected Gemalto as its partner to develop NFC solutions for China’s mobile payment market.
“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.”
China UnionPay has been working with banks and mobile network operators in China to discuss launching NFC mobile payments across China. And in 2012 CUP’s NFC-based contactless mobile payment standard was endorsed by the regulators.
The partnership with Gemalto is expected to facilitate CUP’s efforts to build a NFC mobile payment platform that involves different players in China.