Taiwanese Telco and Banks Announce Plans for NFC-Payment Projects

May 29 2013

Taiwan’s largest mobile operator, Chunghwa Telecom, and four banks announced plans today to launch NFC mobile payment, likely starting with Cathay United Bank and a six-month pilot.

As NFC Times reported earlier this month, Taiwan’s banking regulator, the Financial Supervisory Commission, was expected to grant approval for NFC mobile payment on SIM cards and managed over the air by Chunghwa Telecom’s own trusted service manager to four banks, including earlier approval for Cathay United, along with approval soon to Chinatrust, Taishin International Bank and E.Sun Commercial Bank.

The banks will launch mobile credit card services supporting MasterCard PayPass. Sources told NFC Times that Cathay United or Chinatrust would be the first to launch service, putting the PayPass credit application on NFC SIMs supporting the single-wire protocol and issued by Chunghwa Telecom. Chinatrust and Chunghwa Telecom earlier in May announced the launch of a co-branded physical credit card. Cathay United has been perhaps the most active Taiwanese bank in the past in holding trials using NFC and bridge technologies. 

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