New Mobile Banking On HTC Smartphone With UnionPay

Unionpay-HTC Merger

Unionpay-HTC Merger

China’s only existent credit card service provider, UnionPay Co. Ltd. has joined forces with High Tech Computer Corporation (HTC China) in what will be HTC’s newest Android smartphone with enabled mobile banking.

HTC Corporation, a smartphone manufacture based in Taiwan, entered into a deal with UnionPay on Tuesday, Aug 9th, in preparation for the launch of the “HTC Stunning”, their newest 4-inch Android-based smartphone.

With the financial provisions of UnionPay brought on board, users of the “HTC Stunning” will be able to carry out mobile banking transactions such as paying their bills remotely, making payments without contact, credit card bill payments, cell phone subscription fee payments, online booking of movie tickets, among other financial services via the Android-powered smartphone.

The HTC smartphone will also be enabled with the technology of near-zone connection and communication so that users can make their payments to POS (Point-Of-Sale) devices at outlets and banks.

HTC Corp. is currently ranked 5th on the global standings for smartphone manufacturers. In a statement by the HTC President, Mr. Fred Liu, the company aspires to not only integrate mobile transactions into smartphone functionality, but also make mobile banking an indispensable feature.

HTC UnionPay-enabled smartphone

A demo of HTC smartphone at POS (Point-of-Sale)

The associate Deputy President at HTC’s software and application development wing, Steve Wang, also expressed his optimism in the merger, stating his company’s faith in the success of the new mobile phone banking software.

This unification of these two Chinese giants makes a big impact in the mobile banking revolution of China, with UnionPay already having over 2.5 billion cards (debit and credit) circulating all over the world. In addition, UnionPay card members can transact with their UnionPay cards in an estimated 40,000 affiliate stores and use about 17,000 ATMs in the country.

Unionpay-HTC DealFred Liu, HTC President (right) with Chai Hongfeng (left) UnionPay-China Deputy President

HTC also hopes that the Taiwanese government will promote additional mobile banking initiatives amongst the state-owned Taiwanese banks as a precept for the country’s private sector.

And not to leave out China, HTC also teamed up with Shanghai F-Road Co. following an investment of $5.5 million by HTC in Jan, 2011, through HTC Hong Kong Limited. This will enable users in China to take advantage of F-Road’s financial/commercial services via their mobile applications in mobile banking.

Shanghai F-Road is a mobile app developer in China specializing in smartphone apps for financial services and institutions, and their merger with HTC will guarantee extended coverage into China.

Statistics showed that the number of mobile banking subscribers globally was 102.1 million by the year 2010, but that number is anticipated to grow by almost 40% to mark over 140 million subscribers by the end of 2011, according to Gartner Inc. – a tech research company.

The same goes for the volumes in mobile transactions, which are anticipated to exceed $85 billion, up from $49 billion in 2010 – a projected growth of over 75% in transactions worldwide.

Wondering what the specs of this new HTC smartphone will be? Well so are we! Have a look at our updates as we will give you information on the 4-inch, Android “HTC Stunning” smartphone as soon as we get more details.


Source: China Daily

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