China’s giant mobile operator, China Mobile, and the country's big domestic payment network, China UnionPay, have signed an agreement to cooperate on mobile payment, including using SIM cards in NFC phones.
The two big players, in a deal signed today in Shanghai, say they will work together on product development, technical standards, trusted service management interoperability and common promotion of mobile payment.
An announcement by China UnionPay today says the parties have agreed to put UnionPay’s contactless-payment application, which is now called Quick Pass, onto SIM cards. Yesterday, China Mobile stated at the GSM Association’s Mobile Asia Expo that it would support SIM cards for mobile payment in NFC phones.