Taiwan handset-maker HTC Corp. revealed its newest smartphone and announced Taiwan's entry into the world of NFC payments with its partnership with Cathay United Bank, card issuer EasyCard Corp. and MasterCard International.

The Chinese News Agency reported the partners will be launching a co-branded card on a microSD card that will fit into a slot in HTC's newest smartphone handset, the HTC Incredible E NFC. Along with the NFC technologies in the phone, the card will allow users to tap and pay at 12,000 merchant locations in Taiwan as well as 350,000 merchants worldwide.

"Today is just the beginning. It's relatively easier to promote the Near Field Communication (NFC) technology for small amount payments such as the EasyCard," said HTC's North Asia President Jack Tong at a press conference announcing the phone and partnership.

Tong said additional collaboration between regulators and financial service providers is necessary to promote a wider range of NFC applications.

"It requires joint efforts from the government and industry to build a clear policy to help companies do research and development related to the technology," Tong said.

HTC is the fifth largest manufacturer of handsets in the world.

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