China Has Over 1B Mobile Users, Plans For NFC

What's Next In Payments®
3:41 PM EST December 25th, 2012

Statistics released yesterday by China’s Ministry of Industry and Information Technology (MIIT) show that as of the end of November 2012, there were 1.104 billion mobile phone users in that country, an increase of nearly 118 million people during the first eleven months of 2012, TechCrunch reported. With mobile payments on the rise in China, this is great news for merchants.

We recently reported that according to NFC World, China’s largest mobile operator has signed agreements with transport companies in cities across the country to introduce mobile payments in 2013. In addition, The People’s Bank of China wants to create a national standard for mobile payments. This intention is based on the belief that NFC technology will be central to mobile payments in the country. China Unicom is set to launch its first NFC products in the country soon.

Read the full story here.

Also by This Author
What's Hot
CFPB Goes After Mandatory Credit Card Arbitration
Million-Dollar Hospital Cyberattack Sparks BOA Lawsuit
How Many Smartphones Did It Take Apple To Outpace Samsung?
Can Fire Sale Of Fab.Com Ignite The Site?
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Merchant Innovation
Citi And MasterCard Sign New Ten Year Deal
B2B Payments
Why Wearable Tech May See More Success in B2B
B2B Payments
Merkle Launches Its Data Service For Businesses
B2B Payments
Australia’s Woolworths Chooses Supply Chain Management Platform
View All Articles ››