TAIPEI, Taiwan -- CTBC Bank (中信銀), the banking flagship of CTBC Financial Holding co. (中信金), confirmed on Thursday that it has agreed to work with U.S. high-tech giant Google Inc. with the aim of becoming the first bank in Taiwan to provide Android Pay digital wallet services. Local media said that CTBC Bank is among the Taiwanese banks gearing up to provide Android Pay services, which could be launched in the local market in June. Android Pay is a digital wallet payment system that powers in-app and tap-to-pay purchases on mobile devices. Users of radio-frequency identification credit cards will have access to Android Pay services as long as their smartphones or tablets are equipped with the Android KitKat 4.4 version or more advanced systems, CTBC Bank said. Android phones account for about 80 percent of Taiwan's smartphone market, which means there could be a huge market for Android Pay services.

Source: The China Post May 19, 2017 00:00 UTC