MasterCard teams with Chunghwa Telecom to offer NFC payments

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NFC payments service in Taiwan

MasterCard has teamed with Chunghwa Telecom and Cathay United Bank to offer an easier mobile NFC payments service in Taiwan, it has been reported.

The service gives Chunghwa Telecom mobile subscribers the ability to download virtual credit cards, issued by Cathay United Bank, to a SIM on NFC-enabled handsets. They will then be able to purchase items using just their phones in stores with MasterCard PayPass terminals.

Three more banks, Chinatrust Commercial Bank, Taishin International Bank, and E.Sun Commercial Bank, have also applied to take part in the scheme, which is due to launch by the end of the 2013.

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