China Mobile has launched its NFC-based mobile payment service Hebao, previously known as Phone Wallet, targeting individual and corporate clients who shop overseas. Users can add value to the GlobalTravel Electronic Travelers Cheque through their Hebao accounts and make payments abroad.
The companys next goal is to team up with domestic banks to ensure money flow between the Hebao account and the electronic cheques of American Express.
In recent news, PBZ Group, part of the financial institution Intesa Sanpaolo Group, Intesa Sanpaolo Card and American Express have unveiled that the three companies have initiated a pilot to test host card emulation (HCE) for mobile near-field communication (NFC) payments at point-of-sale (POS) terminals in Croatia.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now