Trunkbow International Holdings, a provider of Mobile
Payment Solutions in China, announced that it has been awarded its first MPS
contract by China Mobile, the nation’s largest wireless carrier with over 600
million subscribers, to support China Mobile’s deployment of a Point-of-Sale
(POS)-based MPS network in the Hebei Province, China.
“This deployment is a significant milestone for
Trunkbow and an important validation of our industry leading MPS technology,
and we are proud that our solution was selected to support the first sizeable
MPS network build for China’s largest mobile carrier,” said Mr. Qiang Li,
CEO of Trunkbow.
“Hebei represents a sizeable market, with a
population of over 72 million, and a demographic profile that suggests rapid
end-user adoption of MPS technology as a convenient and secure alternative to
traditional card-based identification and payment systems,” Li added.
Trunkbow
targets to complete the installation of this platform on China Mobile’s Hebei
network in the fourth quarter of 2011 and expects to recognize revenue from the
platform installation in late 2011.
During the first phase of deployment, Trunkbow and China
Mobile will roll out MPS-enabled POS terminals at academic institutions and
enterprise locations, with the second phase to include the installation of
MPS-enabled POS terminals at retail locations throughout the province.
This platform will allow China Mobile’s over 30 million subscribers
in Hebei province to make cashless purchases at retail locations using their
MPS-enabled mobile phones at the point-of-sale, and will function as an
electronic identification solution for students and employees at schools and
other locations. China Mobile plans to begin offering these services in
November 2011.
Trunkbow recently announced that it has extended
its MPS cooperation with China Unicom through the deployment of its
terminal-based MPS platform in Hubei Province, bringing the company’s total MPS
installed base to 23 provinces through China Unicom and China Telecom.
This platform will be used for both payment processing
and employee and student identification, with Trunkbow to receive revenue based
on a percentage of each user’s monthly phone bill.
By Telecomlead.com Team
