Alternative Finances

Gemalto Selected To Help Launch NFC Services

China Telecom announced earlier this week that it had selected digital security company Gemalto to assist in its UpTeq Multi-Tenant NFC SIM. Specifically, Gemalto will support China Telecom’s commercial rollout of mobile contactless services.

Gemalto’s President of Greater China and Korea Suzanne Tong-Li explained in a company statement that the UpTeq SIM’s additional LTE feature will help China Telecom deliver an enhanced NFC experience to its customers. Additionally, it will leverage the accelerated download of NFC applications using their LTE network.

“With smartphone penetration in China surpassing 66 percent and over 3 million contactless POS terminals in the field, the mobile payment ecosystem is in place,” Tong-Li said. “The major players in China are launching NFC initiatives, enabling China Telecom’s subscribers to experience a rich variety of contactless services.”

As explained by a Finextra article, this new partnership will let China Telecom subscribers be able to use their mobile phones to pay for everyday services, including riding the metro. Additionally, China Telecom customers can choose from various types of NFC-enabled mobile phones to make transportation payments, as well as dining, shopping and petrol payments.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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