Five banks in Taiwan are expected to receive approval from regulators by next month that would allow them to issue mobile credit cards that could be downloaded over the air to SIM cards in NFC phones.
An announcement of a pilot or commercial launch by at least one of the large banks and Taiwan’s largest telco, Chunghwa Telecom, of NFC mobile payments is expected soon. The credit card application on the SIM will probably support MasterCard PayPass.
Meanwhile Chunghwa Telecom has said it would launch a separate mobile-payments service based on QR codes that could be used for some transactions in convenience stores and restaurants as well as for online purchases. A trial is possible next month.