China Telecom has introduced its new mobile wallet contactless payment service in cooperation with over ten banks, according to Marbridge Consulting.
The new service called, E-Surfing Mobile Wallet will include an NFC payment service and the users will be able to sign up for mobile wallet service at China Telecom service halls from 23 December.
China Telecom will exchange the SIM cards of all users with NFC supported handsets for NFC-enabled user identity module (UIM) cards free of charge. China Telecom will release 30 million NFC-enabled UIM cards in early 2014.
The company is expecting that more than 40 handset models will support its E-Surfing Mobile Wallet in 2014.