Recently in a public occasion, Jiang Zhifeng, the director of electronic financial product line of Beijing Research Institute of China Telecom, revealed that China Telecom has recently completed the construction of mobile wallet platform, the NFC card issue volume is expected to exceed 20 million this year.
According to him, basically all the 4G devices in China Telecom are required to support NFC function. "We will pre-install NFC mobile wallet in all the new smartphones, and now we have more than 30 models that support NFC function."
In the access of applications, China Telecom divided them into five categories, the first is access of public transportation: there were about 100 cities, now they will transform to NFC. MOHURD is also working on the interconnection of city bus cards, the next step will be the involvement of public transportation services.
The second category is the banking business, now more than 5 banks have already get the access, with over 10 more in the process of getting the access; the third is the coupon business, which will bring great added value in the NFC era; the fourth is the E-surfing Pay, an private business of China Telecom; the fifth is UIMPASS, a service mainly pushed in the campus.