China Telecom: the biggest RFID near field payment MNO in the world

On June 16th, 2012, China Telecom, one of three mobile network operations in China, announced that its total mobile payment transaction value in 2012 researched 17 billion RMB, already exceeding the total amount of last year.

Called “BestPay” (Chinese “Yi Zhi Fu”), China Telecom’s mobile payment business expanded faster than the other two main Chinese MNOs. After adopting RFID-NFC technology as its main near payment solution, China Telecom’s total number of RFID-NFC mobile payment users have reached 10 million – making it the biggest RFID-NFC MNO in the world. Benefiting from its large 3G subscriber base, China Telecom forecasted the total mobile payment transaction value in the next half year will be twice as much as that of last year, with more than 9,000 merchants joining its network by the end of this year.