MasterCard, Chungwa Telecom to bring NFC payments to Taiwan
Chungwa Telecom, a Taiwanese mobile network operator, and card brand MasterCard are launching a new NFC mobile payment service.
According to Focus Taiwan, the new service will let subscribers to Chungwa store their debit and credit cards from four banks to their mobile device's SIM card on NFC-enabled devices.
The four banks participating are Cathay United Bank, Chinatrust Commercial Bank, Taishin International Bank and E. Sun Commercial Bank. (According to the story, only Cathay United Bank is approved to run a pilot at this point; the other banks are awaiting approval from regulators.)
The new mobile payment service is scheduled to launch later this year.
Read more about contactless/NFC payments.