- Xiamen e-Pass Project to use Watchdata´s SIMpass™ Technology
Beijing, China -- Watchdata System Co. Ltd. has officially entered into a Cooperation Agreement with Xiamen mobile e-Pass project on March 28, 2008. Signed by Mr. Liu Weiguo, General Manager of China Mobile´s Fujian Co., Xiamen Branch, Mr. Wang Youjun, President of Watchdata System Co. Ltd., Ms. Lin Hua, Vice President of China Construction Bank Xiamen Branch, and Mr. Yao Dongdong, General Manager of Xiamen e-Payment Card Operation Co. Ltd. This project marks the commercial release of the first mobile payment system under the cooperation of mobile network operator and multi-functional card operator.
Enabled by the SIMpass™ dual interface solution of Watchdata, the e-Pass card adds payment functionality to a standard Subscriber Identity Module (SIM) card. A mobile phone with a mobile e-pass card inside has extended its functions far beyond a normal telecommunication device. It can now accommodate other applications such as being a transit card, school campus card, banking card and loyalty card. It can also be used as a payment tool for public transportation, restaurant tabs, groceries and public utilities.
The China standard on "Electronic Payment via Cellular Phone on RF Technology" is being drafted under the supervision of Multi-functional Card Alliance of the State Golden Card Office in China. It is expected to be completed by the end of 2008 with the active involvement of Watchdata.
SIMpass™ technology offers unparalleled feature set to enable very secure, highly compatible, cost effective and quick to market value-added mobile solution. SIMpass™ integrates the security module, payment module, telecom module and application module all in one SIM card. This allows mobile operators to stay at the center of the mobile contactless service solution while giving their customers a highly cost effective value-added service that suit their lifestyles.