Topic “China Merchants Bank”

Chinese Banks Confirm Apple Pay Launch Set for This Week

NFC Times Exclusive – Some major Chinese banks are telling their customers that Apple Pay will launch on Thursday in China, which will become Apple’s biggest market for its payments service after the U.S.

Apple and Samsung Announce Plans for Mobile Payments Launches in China

NFC Times Exclusive Insight – Apple has announced overdue plans to launch Apple Pay in China early next year, touting a list of 15 major banks that will enable customers to load their credit and debit cards in its Wallet app, including China’s big four state-owned banks. Meanwhile, Samsung followed with an announcement of its planned launch of Samsung Pay in China, which was also expected.

China UnionPay, Banks Expand HCE-Based Mobile Payments in Advance of Apple Pay Launch

NFC Times Exclusive Insight – Even as major Chinese banks and payment network China UnionPay prepare to participate in what is expected to be the launch of Apple Pay in China in the first quarter, they are expanding their Android-based mobile-payments services using host card emulation.

Users Get Unauthorized Preview of Apple Pay in China as Service Moves Closer to Likely Launch

NFC Times Exclusive – There’s more evidence that Apple is gearing up to launch Apple Pay in China early next year, and not only with China’s big four state-run banks, as was earlier reported.

China UnionPay Signs up 30 Banks to Use TSM Platform; Works with NFC SIMs and Embedded Chips

China UnionPay has announced that 15 banks now have access to its TSM platform, while a total of 30 banks have signed a cooperation agreement to eventually use the platform.

China Merchants Bank Launches Payment on Samsung Embedded Chips

Scope: 
Rollout
Status: 
In progress
Launch: 
Nov 2013
Main Application: 
Payment
Users: 
N/A

China Merchants Bank, one of China’s largest commercial banks, enables customers to download its CMB mobile wallet on three Samsung NFC devices and recharge the payment application stored on the embed

China Telecom to Roll Out SIM-based NFC; Merchants Bank Announces Launch of Payment on Samsung Embedded Chips

China’s NFC market continues to gather steam, with No. 3 telco, China Telecom, announcing a nationwide launch Thursday and one of China’s largest commercial financial institutions, China Merchants Bank, introducing mobile payment on embedded chips in three Samsung NFC devices.  

China Mobile and UnionPay Announce NFC Payments Launch

Jul 25 2013

China Mobile and its mobile-payments partner China UnionPay today announced the launch of the telco’s much-anticipated NFC service and mobile wallet, in at least 14 major cities with applications available from nine banks.

Visa and Samsung Agree to Enable Payment on NFC Embedded Chips; Deal Expected to Bypass Telcos

BARCELONA – Visa and Samsung Electronics have announced a landmark agreement that will see a Visa payWave application preloaded on the embedded secure elements in forthcoming NFC-enabled Samsung devices.

China Mobile Announces NFC SIM and Mobile-Wallet Plans at Developers Conference

Dec 5 2012

China Mobile today officially unveiled its plans for introducing NFC SIM cards and a mobile wallet, which it intends to launch early next year, to enable retail payment, transit ticketing and other applications.

HEADLINE NEWS

Samsung Pay Launches in Spain and Australia Won't Support MST for Bank Payment, but Singapore Will

Jun 15 2016

UPDATED: NFC Times Exclusive Insight – Following the launch of Samsung Pay in South Korea, the U.S., and China, Samsung’s launches of its mobile payments service in two new markets, Spain and Australia, both contactless and EMV payments hot spots, will not support the device maker's proprietary Magnetic Secure Transmission technology, which is designed to make nearly all mag-stripe POS terminals potential acceptance points, NFC Times has learned. But in Singapore, Samsung Pay is expected to support MST technology.

Seamless Turns to HCE and Proxy-Card Architecture to Boost Its Acceptance Network Worldwide

NFC Times Exclusive – Sweden-based Seamless Distribution told NFC Times it will use a proxy-card architecture, along with host card emulation, to enable NFC payments from its SEQR mobile wallet, a move the company hopes will help it greatly expand the acceptance network for its wallet.

Wells Fargo Seeks to Streamline Enrollment and Set Up of Mobile Payments with Planned HCE App

NFC Times Exclusive Insight –  Wells Fargo’s announcement this week that it plans to launch mobile payments from its own app this summer using host card emulation technology would make it the second major U.S. issuer to offer HCE-enabled service from its own Android app, following Capital One, though Wells Fargo plans to make the payments service part of its mobile-banking app.

Samsung Seeks to Fulfill Promise of Widespread Acceptance of Samsung Pay; Terminal Upgrades Will be Needed

NFC Times Exclusive – Certain point-of-sale terminals from a variety of device manufacturers aren’t yet compatible with Samsung’s proprietary Magnetic Secure Transmission technology, with Samsung Electronics’ promise of universal acceptance of Samsung Pay at card-accepting merchant locations still apparently a far-off target.

With Alipay Deal, Samsung Seeks to Outflank Apple and Other Providers of NFC-Only Wallets in China

NFC Times Exclusive Insight – In an effort to deliver on the promise of a "true mobile wallet" and, of course, boost its flagging smartphone market share in China, Samsung has struck a deal with Alibaba affiliate Ant Financial Services to enable the Alipay QR code-based payments service in China through Samsung Pay.

Barclays: No Plans to Support Android Pay or Samsung Pay; Sees Own HCE Apps as Only Android Payments Option Needed

NFC Times Exclusive Insight – Barclays has no current plans to support Google’s Android Pay service or Samsung Pay because by adding the Contactless Mobile functionality to the Barclays Mobile Banking app, the company “removed the need to do something else,” a Barclays spokeswoman confirmed to NFC Times.

OTI Takes Steps to Reach Profitability, But Remains Mum on Guidance

NFC Times Exclusive Insight – On Track Innovations CEO Shlomi Cohen sought to reassure investors that the company he took over nine months ago is more competitive and is moving toward profitability, though he declines to predict when it will turn its first yearly profit since its founding in 1990.

Apple Breaks Resistance of Big Five Banks in Canada; Debit Scheme Interac among TSPs to Tokenize Cards

NFC Times Exclusive Insight – Apple has cracked the big five banks in Canada, with two of the country’s largest banks, including Royal Bank of Canada, today announcing they are participating in Apple Pay, with the three others to follow.

Officials Seek to Welcome Apple Pay and Other ‘Pays’ to Taiwan; but Call on Visa to Create Level Playing Field for TSPs

May 6 2016

NFC Times Exclusive Insight – The issue over availability of tokenization services and whether the major global networks, such as Visa, are allowing for a level playing field among token service providers has reached Taiwanwith a former prime minister and chief banking regulator weighing in on the topic–as Taiwanese officials decide how best to expedite the arrival of such mobile payments services as Apple Pay, Samsung Pay and Android Pay.

NXP Semiconductors CEO Still Sees Transit Fare Collection as Main NFC Growth Engine in China

NFC Times Exclusive Insight – Despite providing the NFC technology for three “OEM Pays” that have launched in China or which are scheduled to do so, NXP Semiconductors CEO Richard Clemmer still says he sees transit fare collection as the main opportunity going forward for the chip maker’s NFC technology in China.

Yandex.Money Uses HCE to Enable NFC Payments in Russia

NFC Times Exclusive insight – Yandex.Money, sometimes called the “Russian PayPal,” is using host card emulation for its new NFC-enabled payments service, a Yandex.Money representative told NFC Times. PayPal earlier told NFC Times it also plans to use HCE for its app in the U.S.

Networks Continue to Dominate Tokenization as Vendors Wait for Token Service Provider Specs

May 10 2016

NFC Times Exclusive – More than two years after EMVCo released its tokenization guidelines, there are still few token service providers operating besides those of the major payments networks, and there are no specifications yet from top networks Visa and MasterCard to help vendors to tokenize cards supporting their brands.