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China Mobile River (NYSE: CHL) is looking to get a major post in the Shanghai Pudong Development Bank, which is a metier-sized Chinese lender. The worldly concern’s largest mobile hustler by subscribers is looking to acquire a twenty stake for CNY40 billion, which is about $5.9 one thousand million.
You whitethorn wonder wherefore an operator would need a bank building. The idea is simple – to whirl mobile money services (along with controlling the supply chain), summation to welfare from cross-selling. The tight integrating between a bank building and hustler could prove beneficial for both parties, and owning a one-fifth of the company definitely buys you a place in the board of directors.
Apparently, China Mobile did say it will work on the mobile defrayal services this class. They’ve even ordered 3 1000000 NFC SIM cards from Jiangsu Changjiang Electronics Technology (JCET) with plans to deploy them for manipulation at the Shanghai World Expo in May. If that test proves to be workings, I tin see PRC Mobile River requiring their vendors to NFC-enable every friggin’ earphone for the Chinese marketplace (at least the function of the marketplace served by PRC Mobile). Add various mobile finance services to the mixing and you get an increased ARPU… Makes perfective mother wit to me!
[Via: MobileBusinessBriefing]