With the rapid development of domestic 3G networks, the mobile payment service based on 3G phones is going to be available soon in the country. China’s three operators, China Mobile, China Telecom and China Unicom were entering into this market.
In November last year, China Mobile formally launched the SIM cards adopted with RFID. Users of these cards could pay by their mobile phone in Starbucks and Shanghai World Expo Park. At almost the same time, China Unicom’s phones with mobile payment feature were starting to go into market. Moreover, China Telecom also announced mobile payment cooperation in the field with China Bank of Communications later.
These events shows that the mobile payment is a key service in 3G era in China market and none of the three operators would like to miss it.
But there are some disadvantages of this service, including:
• None of the three operators have the financial license, when in the promotion of the mobile payment service, they have to cooperate with the banks.
• Since the state has no uniform standards,the major banks have different standards in the promotion of mobile U-shield—a protection tool for mobile payment, which is inconvenient for end users when using this service.(Paul)
