China Merchants Bank, China Mobile cooperate in mobile payment mkt
BEIJING, Feb 05, 2013 (Xinhua via COMTEX) --
China Merchants Bank (CMB, 60
0036.SH) and China Mobile (CHL.NYSE; 00941.HK) signed a cooperation fr
amework agreement on Tuesday to take a share in the mobile payment mar
According to the agreement, CMB and China Mobile will lau
nch strategic cooperation in mobile payment, marketing channels, and c
ompany customer communication. Users will be able to enjoy some of CMB
's services through China Mobile's near field communication (NFC) cell
-phone wallet client.
CMB established partnerships with China Unicom (CHU.NYSE;
00762.HK; 600050.SH) and China Telecom (CHA.NYSE; 00728.HK) respectiv
ely in November and December last year.
The cooperation with China Mobile further enhanced CMB's
competitiveness in the mobile payment market, and will accelerate the
progress of transplanting the bank's credit card function to mobile te
rminal devices to satisfy public demand for a more convenient payment
method, according to Ma Weihua, president of CMB.
China Mobile president Li Yue unveiled that the telecom o
perator aimed to sell around 120 million mobile phones this year, incl
uding 80 percent smartphones, and the sales of mobile phones with mobi
le payment NFC function were expected to reach 10 million units. (Edit
ed by Luo Jingjing, firstname.lastname@example.org)
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