Recently Inside Contactless announced that its NFC product - MicroRead is selected by Chong Qing municipality, China, as preferred NFC chip applied in city's contactless payment project, which marks the beginning of the world's first large-scale, commercialized contactless payment application.
Since June, INSIDE has been working with China Mobile Corp to provide 2000 NFC cellphones. This is the first cooperation for China's telecommunication operator and bank on NFC to enable citizens to purchase with their mobile phone in thousands of commercial spots.
The application is based on widely adopted PBOC standard of The People's Bank of China. PBOC standard are stored in SIM card, connected with Inside's MicroRead chip through Single Wire Protocol (SWP). "NFC Technology Guide" issued by GSM association states that GSM supports SWP, and SWP is accepted by SIM industry after that.
Chong Qing's RFID Project will collect feedbacks directly from retailers and consumers. Just whipping before RFID readers with their cell phones, consumers can make their purchases quickly and safely.
