The collaboration covers deployment issues, including TSM interoperability, security and operational guidelines as well as technology standards and specifications. The consultation is paving the way for UnionPay to develop their vision of constructing a future-proof NFC ecosystem for their issuer banks, as well as enable their cardholders to have access to mobile contactless services.
UnionPay is responsible for establishing and operating the UnionPay inter-bank clearing and settlement system and developing the international acceptance network for UnionPay card, as well as promoting the issuance and usage of UnionPay cards. To date, the total number of UnionPay card issued worldwide has exceeded 3.5 billion, with presence in all over China and network extended to more than 140 countries and regions in Asia, Europe, the Americas, Oceania and Africa.
In recent news, Brazilian mobile network operator TIM Brasil and financial institution Banco Itaú have selected Gemalto for the latter’s UpTeq NFC SIM and AllynisTrusted Services Management (TSM) platform to enable consumers to use their smartphones to make payments by simply waving the handset close to a contactless payment terminal.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now