China Merchants Bank, HTC launch mobile wallet - Mobile World Live

China Merchants Bank, HTC launch mobile wallet

20 SEP 2012

China Merchants Bank and HTC have launched a mobile wallet that will enable consumers to make purchases using the vendor’s NFC handsets. The CMB Wallet will initially be capable of making small payments but larger transactions up to CNY50,000 (USD$7,900) are planned from next year, according to China Daily.  However the extent to which the wallet will be distributed across China is unclear.

What is notable about the launch is that the bank’s contactless payment app has been placed on an embedded secure chip on HTC's Android-based smartphones, according to NFC Times. This would make the CMB service one of the first globally to use the embedded chip that is widely available in NFC handsets as a basis for its service. Google Wallet is probably the most high profile example of this approach.  The same source says the HTC One XC, which is the Chinese version of the flagship HTC One X handset, as well as the HTC Desire C will be offered with the service.  Both handsets will carry an app that supports QuickPass, the technology developed by domestic card provider China Unionpay which enables contactless payment services.

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Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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