Taiwan’s largest mobile operator Chunghwa Telecom and four of the country’s banks have announced plans for NFC-based mobile payments, according to NFC Times.
The announcement follows approval from the country’s banking regulator – the Financial Supervisory Commission for NFC-based payments on SIM cards – which are managed by the mobile operator.
Chunghwa is likely to start with a six-month pilot with Cathay United Bank, with Chinatrust, Taishin Internatioal Bank and E.Sun Commercial Bank to follow. The banks will offer virtual cards supporting MasterCard’s PayPass technology.
Chinatrust and Chunghwa Telecom announced they will launch a co-branded physical credit card in May.
The Chunghwa-Cathay trial will run with employees of the operator and bank but with the promise of wider availability towards the end of this year.