Three major telecom operators and China UnionPay discuss mobile payment standards

According to Xie Yuqi, Director of the Policy and Standards Division of the Communications Development Department of the Ministry of Industry and Information Technology, HC’s security network revealed on August 27th that relevant units of the People’s Bank of China and the three major telecom operators and China UnionPay held a symposium yesterday to discuss the issue of mobile payment standards.

Xie Yuqi made this remark at the "2010 China Mobile Payment Application Development Conference" held on the morning of the 27th. The report quoted her as saying that this shows that cross-industry and cross-departmental cooperation is advancing the development of the mobile payment industry, and the development of standards for mobile payment services has begun.

At present, there are four major categories of mobile payment solutions used in China. The three major telecommunications operators are not the same in the choice of mobile payment standards. In addition, UnionPay also introduced payment solutions based on SD cards. And who will eventually become the leading standard for mobile payment in China is still undecided.