Mobile payments tokenization standard sought by credit card giants

mobile commerce payments smartphone shopping

Visa, MasterCard, and American Express have announced their new proposed framework. The three credit card giants, Visa, MasterCard and American Express have unveiled a newly proposed framework for a global standard that would boost digital and mobile payments security, and that would simplify the experience of completing a transaction while shopping over a smartphone, tablet, laptop, or other connected device. The lack of a standard of this nature has been considered a considerable barrier to m-commerce. By developing a global standard, it will make it possible for a whole new…

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Mobile payments receive new framework in China

China Mobile payments technology commerce

People’s Bank of China sets sights on mobile payments The People’s Bank of China, China’s largest telecommunications company, has released new technical standards that are meant to govern the proliferation and support of mobile payments. Mobile commerce has been experiencing strong growth in several Asian markets, with much of this growth taking root in China. A growing number of consumers are becoming comfortable with the idea of mobile payments, leading People’s Bank of China to begin seeking ways to expand mobile commerce services throughout the country. In order to do…

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Mobile payments standard for China expected in 2013

Mobile Payments

The guidelines are expected to be released as early as this year, as they have already been created. A recent report from Marbridge Daily has revealed that China will soon be announcing a national mobile payments standard specification which has been long awaited in that country, just as other nations are awaiting their own. This is meant to help to provide the industry with the guidance it needs to move forward with greater confidence. The report stated that the mobile payments standard has already been drafted and that it is…

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Mobile payments standard to be created in China

Mobile payments platform

The People’s Bank of China has announced that it intends to create a national standard. There may be a mobile payments national standard available in the near future for China’s smartphone users, as the People’s Bank of China has announced its intentions to create one, said the vice-director of its science and technology department, Lu Shuchun. It is expected that the standard will use the 13.56 MHz internationally common technology. This is based on the assumption that near field communication (NFC technology) in smartphones will become the center of the…

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