ZTE launches innovative payment solutions
Phone point-of-sale, photonic and Digital TV payment solutions launched by ZTE at GITEX exhibition in Dubai
13 October 2014, Shenzhen, China – ZTE Corporation (“ZTE”) (H share stock code: 0763. HK/A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment, network solutions and mobile devices, has launched a range of innovative payment solutions including phone POS (point of sale), photonic and DTV (Digital TV) payment products at the GITEX exhibition in Dubai.
With an NFC (near field communication) capable smartphone, users can install the phone POS app to enable the smartphone function as a POS payment device. Businesses and individuals can then more easily manage a vast range of transactions including transferring money, checking account balances, paying off credit cards, topping up mobile phones and paying bills.
This functionality gives complete freedom to users, allowing them to complete transactions whenever and wherever they want, as well as allowing businesses to save on operating expenses by receiving immediate payment.
ZTE’s photonic payment solution can be downloaded as an app which is then linked to the user’s bank account. Shoppers can complete payments with the click of a button as the app uses the smartphone’s flash light to communicate with the seller’s photonic receiving device to complete the payment in a way that is more secure than, for example, contactless card transactions.
ZTE’s Digital TV solution enables viewers to purchase products with the click of a button using a smartphone. The system enables a wide range of payment opportunities including paying public utility bills and topping up smartphone accounts.
The integration of the smartphone, PC and television into one solution provides a faster and more convenient trading platform for both consumers and businesses. With ZTE’s innovative payment technologies, smartphones can now function as POS payment devices and telecom operators and service providers can establish more partnerships with radio and television operators, and with online businesses.
This will accelerate the development of the payment services industry, and create new models for the e-commerce and DTV sectors, eventually changing the way people make most of their transactions.
Mr Shi Lirong, President of ZTE, said: “In the future, ZTE is aiming to lead the way in the payment industry by adapting to suit the needs of its customers. Our aim is to always pursue technologies that reduce environmental impact and provide top-quality user experiences.”
The Chinese Central Bank recently issued third-party licenses to ZTE for Internet payment, mobile payment and Digital TV payment solutions. ZTE is the only enterprise that has been granted these three licenses simultaneously in China.
Visitors to the ZTE booth at GITEX will be able to test the company’s payment solutions in a variety of scenarios, from personal shopping to enterprise-usage, and experience these innovative, efficient and convenient payment systems.
ZTE aims to continue its open and cooperative approach to the development of new technologies and solutions, and to attract more partners from across the full range of industries. Photonic payment is an example of successful cooperation with a partner from a separate industry, as the ZTE solution was developed in partnership with photonic payment solutions market leader Kuang-Chi Innovative Technology Ltd.
The new ZTE payment technologies have been planned, incubated and developed in ZTE’s CGO (Cool, Green, and Open) R&D laboratory which focusses on innovative mobile technologies that can change the way people live.
ZTE is a publicly-listed global provider of telecommunications equipment and network solutions with the most comprehensive product range covering virtually every telecommunications sector, including wireless, access & bearer, VAS, terminals and professional services. The company delivers innovative, custom-made products and services to over 500 operators in more than 160 countries, helping them to meet the changing needs of their customers while growing revenue. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in several international bodies devoted to developing telecommunications industry standards. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. The company is China’s only listed telecom manufacturer that is publicly traded on both the Hong Kong and Shenzhen Stock Exchanges (H share stock code: 0763.HK / A share stock code: 000063.SZ). For more information, please visit www.zte.com.cn.