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Digital security provider Gemalto announced it will be partnering with China’s UnionPay to build a secure mobile NFC ecosystem across China. Considering UnionPay is the only domestic payment scheme servicing China, with more than 3.5 billion cards issued, that's a sizable undertaking.
According to a release on the partnership, Gemalto will be providing a number of services including TSM interoperability, security and operational guidelines, plus technology standards and specifications.
"We believe that mobile payment has enormous potential in China," Chai Hong Feng, UnionPay EVP, said in a statement. "UnionPay is a staunch supporter of payment innovation and mobile payment is an integral part of our endeavors. Gemalto has a wealth of experience in NFC and mobile payment deployments worldwide."
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