China's mobile payment market has great potential, and three operators want to grab this big cake. In the beginning of this year, China Mobile changed the original system technology to 13.56MHz standard, and the original 2.45GHz technology will be used only for closed applications.
Last November, the People's Bank of China, Ministry of Industry and Information Technology (MIIT), State-owned Assets Supervision and Administration Commission (SASAC) and the three operators (China Mobile / China Unicom / China Telecom) held a seminar to confirm 13.56MH z standard as a official standard, and 2.45GHZ standard can not access to the financial circulation.
A source said that currently China Mobile had started a large-scale hiring for the preparatory of payment company, and China Mobile was expected to acquire the mobile payment license in September.
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