China to Approve 2.4GHz Contactless Payment Standard

TechWeb, 12/07/12

Chinese Ministry of Industry and Information Technology (MIIT) Deputy Director Zhang Qi revealed at the "Mobile Payment Conference of China 2012" in Beijing yesterday that China will soon approve a 2.4GHz contactless payment standard for the country, in addition to the previously approved national standard of 13.56MHz widely used by Shenzhen-based integrated payment service provider China UnionPay. The 2.4GHz RFID-SIM standard, which has been previously deployed by China Mobile (NYSE: CHL; 0941.HK), has already received approval from China's Ministry of Transport.

Editor's Note: For more background on this topic, please see "China Adopts 13.56MHz National Contactless Payment Standard" MD 9/20/12 issue.

Keywords: Ministry of Transport wireless contactless payment mobile payment MIIT China UnionPay national standard RFID Zhang Qi Near Field Communication

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