China provides mobile banking services

hassen1 · #1 (**permalink**) 11-09-2006, 07:42 AM

China's largest mobile network operator China Mobile recently began offering mobile banking services throughout 17 provinces and municipalities.

Collaborating initially with three leading banks -- the Bank of China, the Industrial and Commercial Bank of China, and China Merchants Bank, China Mobile will provide these services to some half million subscribers in the initial phase.

Users will be able to access their banks via mobile phone for transactions such as checking bank balances, paying phone bills, and transferring funds between accounts. Several million subscribers are expected to benefit from the service by the end of this year.

Other banks are now talking with the company to cooperate in this service, according toa China Mobile official.

China Mobile is also planning a range of other new services for the future, including a stock-trading application which is scheduled to be unveiled in the coming months.

Using java-compatible Simera SIM cards provided by Schlumberger Limited, which are capable of being upgraded as needed, China Mobile will easily be able to extend its service range, said the company official.

humpty · #2 (**permalink**) 11-09-2006, 08:22 AM

Oh is it...

:shock:

sounds like china mobile intends to continue their position as the top one in china, and by the sound of it, seems to have a plan that's gonna almost guarantee their objectives are met

wonder if it's a good time to invest some stocks in this company hehehe

hassen1 · #3 (**permalink**) 11-09-2006, 01:14 PM

humpty, since communism took a back seat in China and with the advent of free market in China, things have changed a lot. China will soon over take all other industrialised nations. They have a very cheap, intelligent work force.