China Mobile announced Wednesday that customers in Shanghai will be able to pay their Metro fares by swiping their smartphones at the turnstiles, thanks to upgraded technology.
Metro payment included as part of new technology enabling people to pay bills in over 20,000 stores in Shanghai, developed by China Mobile, Shanghai Metro and Shanghai Pudong Development Bank.
"It's the first time people will have 3-in-1 services including bank card, mobile payment and Metro payment," China Mobile said in a statement.
The new technology also offers users an easy method for checking amounts paid by phone and transferring money. Users will be limited to purchases of 1,000 yuan ($164) per day with their phones to limit potential losses from theft.
Users who spend more than 70 yuan per month will receive a 10 percent discount off Metro services.
Shanghai Mobile temporarily provided similar services during the 2010 Shanghai World Expo, but these were made obsolete by stricter banking security regulations.
Customers can access the new service now by replacing their SIM cards with ones that feature near field communications (NFC) capabilities at Shanghai Mobile outlets if their device is suitable. iPhone handsets do not support NFC.
According to Gartner, a US-based research firm, more than half of all smartphones will feature NFC by 2015.
[Image via Flickr]
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