Telecom Lead Asia: Trunkbow International, a provider of
Mobile Payment Solutions and MVAS in China, has extended its cooperation with
China Unicom through the deployment of a new terminal-based MPS platform in
Sichuan Province.
The company said that it began the implementation of the
platform in the first quarter of 2012, and services are expected to launch in
the second or third quarter.
Under the agreement, Trunkbow will receive recurring
revenue payments based on a percentage of monthly subscriber fees and
transactions processed using the MPS platform.
During the first phase of deployment, Trunkbow and China
Unicom will jointly market this MPS technology to corporations, academic
institutions and other organizations as a SAAS and enterprise automation tool
including authentication and internal payment functionalities.
“We believe that partnering with enterprises and
institutions to use MPS as an authentication tool are an excellent complement
to the transaction processing applications with physical merchants at the
point-of-sale,” said Qiang Li, CEO of Trunkbow.
The company’s primary goal for 2012 is to drive adoption
of MPS among merchants and consumers. It believes that as businesses and
academic institutions increasingly enable the use of MPS-based mobile handsets
as an electronic identification tool, it will encourage end-users to further
simplify their lives by using phones as a method of payment as well.
This platform will allow China Unicom’s 5.5 million
subscribers in Sichuan province to make purchases at retail locations using
their mobile phones at the point-of-sale, and will function as a convenient,
secure electronic identification card for students and employees at schools and
other locations using the technology.
The companies plan to expand this marketing effort to
include brick-and-mortar retail locations for point-of-sale payment
applications following the initial ramp of enterprise installations.
Last year, Trunkbow International got its first MPS contract from 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.
editor@telecomlead.com