Taiwanese carrier Far EasTone Telecommunications Co. said it will trial an NFC mobile payment project beginning later this year. The first phase will begin in the third quarter and will include Far Eastern International Bank and MasterCard.

According to Focus Taiwan, a second phase will begin in the fourth quarter and will include Visa and local Taiwanese banks.

"We will begin with our group's banks and department stores, while seeking external partners such as fast food chain stores," said Far EastOne chairman Yvonne Li in the Focus Taiwan post.

Additional details of the plan will be announced later this month.

For now, users will only be able to make transactions of less than NT$3,000 ($100).

Read more about contactless/NFC.