China Unicom And China Merchants Bank Offer NFC Mobile Wallet Service
News: Chinese telecoms operator China Unicom and China Merchants Bank (CMB) have teamed up to roll out a mobile wallet service in Shanghai, making it the first city to get access to the mobile payment system in China. The service will be offered for phones equipped with near field communication (NFC) technology. The service will allow users to connect their CMB accounts to their SIMs to convert their handsets into a mobile wallet. The users will be required to register for the service at selected branches of the operator in order to make payments through their handsets at stores that have deployed China UnionPay's Quick Pass point-of-sale systems.