22 April 2019

China Telecom rolls out mobile wallet service, Xinhua says

China Telecom Corp. Ltd. (00728.HK) rolled out on Thursday a mobile wallet service in collaboration with more than a dozen financial institutions, using the Near Field Communications (NFC) technologies, Xinhua news agency reported. The service enables people to settle with their mobile phones payments in public transport, gas stations, restaurants and shopping arcades. Users can also use their mobile phones for identification purposes at airline check-in counters, and as staff cards. The banks participating in the service include Agricultural Bank of China Ltd. (01288.HK, 601288.CN), Bank of China Ltd. (03988.HK, 601988.CN), China Construction Bank (00939.HK, 601939.CN), Bank of Communications Co. Ltd. (BoComm, 03328.HK, 601328.CN), China CITIC Bank Corp. Ltd. (00998.HK, 601998.CN), Ping An Bank Co., Ltd. (000001.CN), Guangdong Development Bank, China Minsheng Banking Corp., Ltd. (01988.HK, 600016.CN), China Merchants Bank Co. Ltd. (03968.HK, 600036.CN), China Everbright Bank Co., Ltd. (601818.CN) and Shanghai Pudong Development Bank Co. Ltd. (600000.CN), the report said.

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