22 August 2017
Find out more

China Minsheng Bank teams with SmartPay for m-payments service

27 July 2006  |  5488 views  |  0 smartphone

China Minsheng Banking Corporation (CMBC) is joining forces with Shanghai-based SmartPay to provide SMS-based mobile payments services to its customers.

Under terms of the deal, CMBC customers across China will be able to pay for goods and services from participating SmartPay merchants over any mobile phone or PHS network.

Once registered, users will be alerted when a pre-paid account, such as a phone top-up, is low or when a post-paid account is due. Payment can then be made via SMS.

SmartPay also processes payments for digital cards, utility bills and lottery tickets and says it will provide payment services for airline tickets in the future.

CMBC says SmartPay will give customers a mobile payment service that combines an intuitive user experience with real time ability to access and spend money.

Greg Shen, CEO of SmartPay, adds: "Already, SmartPay has processed billions of transactions. The mobile phone will do for money, what the iPod has done for music, making it instantly accessible and personalised."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

PayPal to launch SMS payments service

PayPal to launch SMS payments service

23 March 2006  |  23684 views  |  0 comments
SMS solution to credit card debt

SMS solution to credit card debt

18 May 2005  |  7398 views  |  0 comments
SMS text authentication a hit down under

SMS text authentication a hit down under

14 March 2005  |  9307 views  |  0 comments
Smartpay Jieyin completes HK$65m funding

Smartpay Jieyin completes HK$65m funding

28 July 2004  |  2538 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comdownload the paper nowvisit www.vasco.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
12420 views comments | 26 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
10977 views comments | 22 tweets | 34 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
10204 views 0 | 6 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10161 views comments | 10 tweets | 8 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
10064 views comments | 21 tweets | 34 linkedin

Featured job

Find your next job