China contactless smartwatch payment services unveiled
By the middle of 2017, China’s central bank regulation will ensure that all payment terminals will feature contactless payment. In anticipation of this development, Oberthur Technologies (OT) is collaborating with Mobvoi and China Union Pay to launch an Android smart watch that will facilitate contactless payment in China secured by OT’s embedded Secure Element.
As of September 2015, Mobvoi’s Ticwatch is the best-selling Android smart watch in China following its launch during the month. Users will now be able to wave their Ticwatch in front of a contactless CUP payment terminal in the near future.
ZhiFei Li, founder& CEO at Mobvoi, said: “We believe that contactless payment is the revolutionary payment lifestyle enabled by wearable devices. With this in mind, we are developing the wearable technologies to provide a secure, efficient and seamless payment experience to all our users. We are delighted to collaborate with OT and China Union Pay to bring an innovative payment mechanism on Ticwatch throughout China.
“Thanks to OT’s technology, we will be able to bring convenience to our customers combined with a high level of security for NFC payment,” Li added. “In addition, whilst the service will be initially available in China, we would like to bring this service to our global audience and continue this collaboration.”
The Android device features the use of PEARL by OT embedded Secure Element, which is the most advanced multi-application eSE offering the highest level of security and the largest memory on the market.