LIVE FROM GSMA MOBILE WORLD CONGRESS SHANGHAI 2015: Fan Jinqiao, CEO of China Mobile Payment, a unit of the country’s leading operator, had a list of impressive statistics to share, as well as an open platform philosophy to preach for its NFC-based SIM card.
Founded in 2011, the mobile payments unit is slated to double its transaction volumes this year, as well as increase its number of registered users from more than 100 million (2014) to 150 million by the end of next year.
The unit, which works with the country’s banks and China Unionpay, its leading card issuer, has more than five million NFC-based subscribers.
In 2015, China Mobile launched an NFC-based multi-application platform, which now contains more than 200 apps, including for banks, public transport and schools.
The payments chief said the unit has set aside open space on its SIM card, a move from single-client portal to multi-client portal. It is focused on attracting more apps onto the SIM. In this scenario China Mobile Payment acts as the platform’s all-important trusted service manager (TSM).
The unit is also looking to diversify in terms of devices, adding NFC-based wearables as another payments option alongside handsets. Another project is to encourage further use of NFC technology in schools.