China Unicom signs mobile payments partnership

Trunkbow International Holdings Limited, a provider of mobile payment services in China, on Thursday announced that it has signed a mobile payments deal with China Unicom.  Under the agreement China Unicom will deploy Trunkbow’s new terminal-based MPS platform in Heilongjiang Province. Installation is expected to begin in the second quarter, with services scheduled to launch in the second half of 2012.


Under the agreement, Trunkbow will receive recurring revenue payments based on a percentage of monthly function fees and transactions processed using the MPS platform. Trunkbow and China Unicom plan to jointly market this MPS technology to retailers for phone-based payments at the point-of-sale, and to corporations, academic institutions and other organizations as a SAAS and enterprise automation tool for user authentication and internal payment capabilities.


This platform will allow China Unicom's 5.7 million subscribers in Heilongjiang province to make purchases at retail locations using their mobile phones at the point-of-sale, and will function as a secure electronic identification card for students and employees at schools and other locations that adopt the technology.


"This represents a sizeable opportunity, as we will simultaneously roll out user authentication and payment processing services, making the solution more attractive to end-users and increasing the value proposition for retailers, enterprise and institutional users," said. Qiang Li, CEO of Trunkbow. "Similar to our efforts in Sichuan Province, we are working closely with our partners at China Unicom to build awareness of the significant benefits of MPS technology among merchants and corporate IT executives, with a goal of evangelizing the technology and supporting broad adoption of MPS for multiple applications. Handset technology and wireless network infrastructure are improving rapidly, and we are confident that this ongoing mobile revolution will help drive mass-market usage of MPS as we enhance the solution through the addition of new features and functionalities."

ArticleTools

Featured Reports

Mobile Infrastructure in China

Historically, network infrastructure is the most expensive component in a mobile operator's overall CAPEX, which holds true in China, the biggest and fastest growing 4G market in the world. This report provides an in-depth overview of market revenue, equipment shipments, and the competitive landscape for carriers.  Buy now

M2M, IoT, Sensors, and Connected World:

    Market and Forecast 2015 – 2020 

This report assesses the overall Sensor marketplace for IoT, evaluates leading vendors, identifies key IoT functionality, and forecasts the market for sensor adoption and revenue. Key areas covered include Sensor hardware and software design, protocols for Wireless Sensor Networks, as well as Sensor Data Fusion, Multi-sensing and Soft Sensors.  Buy now