Handset maker HTC and China Merchants Bank have officially announced the launch of a mobile-payment service that puts a contactless payment application on an embedded secure chip in HTC Android phones.
Outside of the Google Wallet in the U.S., the project is believed to be one of the first mobile-payment services to use the embedded chip in NFC-enabled Android phones or any NFC smartphone for that matter.
There are already millions of NFC phones in circulation with embedded secure chips, including those from South Korea’s Samsung Electronics and Taiwan-based HTC. The same phones also support the SIM as secure element.