China will most likely adopt 13.56 MHz as the national payment standard, according to Zhang Qi, director of the China Information Industry Trade Association (CIITA). Alternative standards such as 2.4GHz will likely be excluded from the financial sector, favored instead for closed application environments, such as corporate buildings.
Qi, speaking at the China Mobile Payment Industry Summit in Beijing, said the decision was made in November 2010 at a meeting between government regulators, banking network China UnionPay and China’s three major mobile operators – China Mobile, China Telecom and China Unicom. According to Marbridge Daily, these parties will form a working group under the Peoples Bank of China (PBoC) to establish national standards.
It was also decided during the meeting that the the mobile operators will have to apply for third-party payment licenses from the People’s Bank of China in order to develop financial services, reports MD. Operators wishing to conduct mobile payments trials will also require PBoC and MIIT approval.
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