Useful links:
Intl News | Intl Press Releases | sQuid schemes - Intl

eMoney News

eMoney transactions set to rise following mobile payment merger
27 May 2010

eMoney transactions are set to rise following the announcement that two industry firms plan to develop mobile payment solutions.

The Institute of Microelectronics (IME), a research company, and smart card provider Watchdata Technologies are collaborating to make mobile transactions widely accessible.

Currently, the technology is restricted to specific mobile phones and cannot be widely adopted, but the firms hope to make payments available on any handset.

Mobile phone users who adopt the technology will be able to benefit from quick and secure payments without the need for cash. 

Michael Yu, president of Watchdata international business operations, expressed his belief that customers will be able to enjoy a wide-range of payment functions on their phones 

He said: "Ultimately, consumers can look forward to do banking, transit, retail payment and mobile telecom transactions via their mobile phone."

The mobile payments market is expected to be worth $630 billion (£416 billion ) by 2014, according to the IME