Taiwan Mobile Payment, a joint venture between the Financial Information Service Company, the National Credit Card Center and the Clearing System Development Foundation, this past week launched what it calls a payment service provider trusted service manager to process NFC-based mobile payments throughout the country.
Thirty-two banks, three card processing companies, EasyCard and several mobile networks operators support the new mobile commerce system that has acceptance at some 30,000 retail locations in Taiwan.
Chunghwa Telecom, the country’s largest mobile operator, this past week was the first to launch the system. Consumers who wish to use the system must dowload a digital credit card using a smartphone that connects to the 3G or 4G network. Twenty smartphones are compatible with the system, according to multiple local reports.