China bullish about mobile payment

The Chinese mobile payment industry is expected to reach 147 million users this year, up 25.6% from 2009 figures, reports Official Wire.

With the coming of the 3G era, three major mobile operators: China Mobile, China Telecom and China Unicom are actively promoting mobile payment services.

Earlier this year, China Mobile revealed plans to acquire 20% stake of Shanghai Pudong Development Bank for the purpose of building a financial payment platform for developing mobile payment services in the future.

Software maker Zong has developed a mobile payment solution for the Android operating system, says IT Pro Portal.

Zong is already working with several Internet organisations to provide solutions for carrier billing with customer's credit, debit or prepaid cards.

Google had not integrated such solutions into its Android operating system, allowing companies such as Zong and Boku to create applications that cater to the emerging mobile payment market.

Technis Ventures has acquired a 15% stake in TradeMobile, which operates a global mobile payment and content platform, states Business Financial Newswire.

Technis CEO Jack Kaye says: "This is our first acquisition for Ventures and is in line with our strategy for Ventures to acquire interests in companies with a strong position in a niche market."

Over the next six months, TradeMobile's outsourced development team is making improvements to its software delivery platform.