Far EasTone Telecommunications Co, the nation’s No. 3 telecoms operator, expects to accelerate integration with other companies owned by Far Eastern Group to create synergy in the development of its mobile payment service, company officials said yesterday.
The company may seek partners in the retail and financial sectors in the early stages of this integration, the officials said, an indication that Far Eastern Geant Co and Far Eastern International Bank, which both belong to Far Eastern, might be two possible options.
“The idea of mobile payment has been in my mind for four years, and now is a good time to execute it,” group chairman Douglas Hsu told reporters after Far EasTone’s annual shareholders’ meeting.
The telecoms operator plans to release one or two mobile payment applications for portable smart devices in the second half of this year, and gradually expand to phones equipped with near-field communication (NFC) technology, Hsu said.
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