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China Telecom Obtains 10mn Mobile Payment Users
[December 06, 2012]

China Telecom Obtains 10mn Mobile Payment Users

BEIJING, Dec 06, 2012 (SinoCast Daily Business Beat via COMTEX) -- A top executive of China Telecom Corporation Limited (SEHK: 0728 and NYSE:CHA) disclosed at the 2012 annual meeting for China's mobile payment industry held today that the company had acquired 10 million mobile payment users.

According to introduction, China Telecom's mobile payment service has covered enterprises, campuses, buses, banks and gas stations, etc, owning 7 million users in enterprise and on campus, 1.5 million public transport users, more than 400,000 bank card users and over 1 million gas filling card users.

The payment applications developed by China Telecom are not only oriented to general users but also serve big enterprises. The company has now developed applications for cash concentration and cash collection via mobile POS to serve enterprises.

In addition, the company has expanded its mobile payment pilots in rural areas by connecting the clients of three major operators (China Mobile, China Telecom and China Unicom), so as to solve the problems that peasants are concerned about via mobile phones and to ensure safe payment service, which could, for example, transfers fertilizer subsidy to peasants' accounts.

Source: (December 06, 2012)

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