In Focus
FINANCIAL TECHNOLOGY | Staff Reporter, China

NFC gaining traction with more Chinese banks

Leverages advantages of smartphones in financial transactions.

Shanghai Pudong Development Bank and China Everbright Bank have entered into agreements with Chinese mobile phone companies to offer “near field communication” or NFC services.

Shanghai Pudong Development Bank and China Mobile have launched an NFC service that allows customers to use their smartphones to make mobile payments and transfer money.

China Everbright Bank signed a strategic cooperation agreement with China Unicom to develop business in mobile finance. The bank will focus on mobile payment service to facilitate NFC and online payments.

NFC is a set of standards for smartphones and similar devices to establish radio communication with each other by touching them together or bringing them into close proximity, usually no more than a few inches.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.