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Chunghwa Telecom selects Gemalto for NFC payment trial with MasterCard and four leading banks in Taiwan

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  • Gemalto’s has been selected by Chunghwa Telecom to provide SIM-based security for its NFC payment program
  • The initiative is supported by leading four leading banks in Taiwan
  • Over 20,000 MasterCard® PayPass™ POS readers across Taiwan to make payments at
  • Trial is open to CHT’s full user-base

Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, announces that its UpTeq NFC SIM embedded software and product has been selected by Chunghwa Telecom (CHT) to secure its NFC payment program. CHT is Taiwan’s largest mobile network operator with 10 million subscribers. The initiative, using the SIM as the secure element to safeguard mobile NFC transactions, was approved by the Financial Supervisory Commission of Taiwan, and is supported by leading Taiwanese banks Cathay United, Chinatrust Commercial, E.Sun, Taishin, as well as handset makers HTC Corp, Samsung, Sony.

CHT subscribers will be able to use their mobile phone for contactless payments at over 20,000 MasterCard® PayPass™ point of sale readers across Taiwan including supermarkets, department stores and a fleet of taxis. The pilot also supports additional NFC services such as multiple credit and prepaid cards, loyalty cards, coupons, and ticketing.

Gemalto’s UpTeq NFC SIM is the tamper-proof secure element that provides banking-grade security for mobile contactless transactions. It also enables CHT to easily deploy and manage additional NFC services after the card has been issued to subscribers in the field. This unique flexibility is key to attracting more service providers looking to harness NFC technologies while ensuring successful deployment and adoption of a broad range of mobile NFC services.

“The strong support of the Gemalto local team helped us achieve first-to-market advantage in using the SIM to secure mobile payments,” said by Joseph Kuo, Director of Value Added Services CHT. “It is part of our strategy to ‘seed the market’ by equipping all of our subscribers with the UpTeq NFC SIM so we are ready for mass deployment of mobile contactless services.”

“MasterCard continues to lead the demands in Taiwan market by providing consumers with the most innovative payment technology and creating new opportunities for financial services,” said Julie Yang, Head of Taiwan, and MasterCard. “Gemalto’s UpTeq NFC SIM solution provides EMV-payment level of protection for mobile contactless transactions and also opens the door to a wealth of innovative NFC services beyond payments for the benefits of the consumers as well as business stakeholders in the value chain.”

“With leading partner banks bringing significant clout to the program, CHT is poised to play a leading role in the swift deployment of mobile NFC services,” added Michael Au, Senior Vice-President of Telecommunications at Gemalto Asia. “This will also spur new service providers to onboard the NFC ecosystem to offer a wide array of NFC services such as mass transit, access control and information download from smart posters.”

About Gemalto
Gemalto (Euronext NL0000400653 GTO) is the world leader in digital security with 2012 annual revenues of €2.2 billion and more than 10,000 employees operating out of 83 offices and 13 Research & Development centers, located in 43 countries.

We are at the heart of the rapidly evolving digital society. Billions of people worldwide increasingly want the freedom to communicate, travel, shop, bank, entertain and work – anytime, everywhere – in ways that are enjoyable and safe. Gemalto delivers on their expanding needs for personal mobile services, payment security, authenticated cloud access, identity and privacy protection, eHealthcare and eGovernment efficiency, convenient ticketing and dependable machine-to-machine (M2M) applications. We develop secure embedded software and secure products which we design and personalize. Our platforms and services manage these products, the confidential data they contain and the trusted end-user services made possible.

Our innovations enable our clients to offer trusted and convenient digital services to billions of individuals.  Gemalto thrives with the growing number of people using its solutions to interact with the digital and wireless world.

For more information visit www.gemalto.comwww.justaskgemalto.comblog.gemalto.com, or follow @gemalto on Twitter.

 

 

 

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Japan’s jobless rate seen up in January due to COVID-19 emergency measures – Reuters poll

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Japan's jobless rate seen up in January due to COVID-19 emergency measures - Reuters poll 1

TOKYO (Reuters) – Japan’s jobless rate is expected to have edged up in January as service industry businesses suffered renewed restrictions on movement to fight spread of the coronavirus in some areas, including Tokyo, a Reuters poll of economists showed on Friday.

While industrial production activity picked up in Japan, emergency curbs rolled out last month such as asking restaurants to close early and suspending the national travel campaign hurt the jobs market, analysts said.

The nation’s unemployment rate likely rose 3.0% in January, up from 2.9% in December, the poll of 15 economists found.

The jobs-to-applicants ratio, a gauge of the availability of jobs, was seen at 1.06 in January, unchanged from December, but stayed near September’s seven-year low of 1.03, the poll showed.

“As the impact from the coronavirus pandemic prolongs, it is hard for firms, especially the service sector, to expect their business profits to improve,” said Yusuke Shimoda, senior economist at Japan Research Institute.

“So, their willingness to hire employees appear to be subdued and it is difficult to see the jobs market recovering soon.”

Some analysts also said the government’s steps to support employment and existing labour shortages will likely prevent the jobless rate from worsening sharply.

The government will announce the labour market data at 8:30 a.m. Japan time on Tuesday (2330 GMT Monday).

Analysts expect the economy to contract in the current quarter due to the emergency measures to counter the spread of the disease.

(Reporting by Kaori Kaneko; Editing by Simon Cameron-Moore)

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China’s economy could grow 8-9% this year from low base in 2020 – central bank adviser

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China's economy could grow 8-9% this year from low base in 2020 - central bank adviser 2

BEIJING (Reuters) – China’s gross domestic product (GDP) could expand 8-9% in 2021 as it continues to rebound from the COVID-19 pandemic, Liu Shijin, a policy adviser to the People’s Bank of China, said on Friday.

This speed of recovery would not mean China has returned to a “high-growth” period, said Liu, as it would be from a low base in 2020, when China’s economy grew 2.3%.

Analysts from HSBC this week forecast that China would grow 8.5% this year, leading the global economic recovery from the pandemic.

If 2020 and 2021’s average GDP growth is around 5%, this would be a “not bad” outcome, said Liu, speaking at an online conference.

China is set to release a government work report on March 5 which typically includes a GDP growth target for the year.

Last year’s report did not include one due to uncertainties caused by the coronavirus. Reuters previously reported that 2021’s report will also not set a target.

(Reporting by Gabriel Crossley and Muyu Xu; Editing by Sam Holmes and Ana Nicolaci da Costa)

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Japan’s January factory output rises for first time in three months, retail sales drop

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Japan's January factory output rises for first time in three months, retail sales drop 3

By Daniel Leussink

TOKYO (Reuters) – Japan’s industrial output rose for the first time in three months in January thanks to a pickup in global demand, in a welcome sign for an economy still looking to shake off the drag of the coronavirus pandemic.

But retail sales, a key gauge of consumer spending, posted their second straight month of declines in January as emergency measures taken in response to the pandemic hit consumption.

Official data released on Friday showed factory output advanced 4.2% in January, boosted by sharp rises in production of electronic parts and general-purpose machinery, as well as a smaller increase in car output.

“Manufacturers will continue to increase output over the near term as long as there won’t be any big shock,” said Taro Saito, executive research fellow at NLI Research Institute.

While economic growth will likely be negative in the first quarter, the strength in manufacturing would offset the negative impact of a state of emergency at home, which is mainly affecting the services sector, he said.

The rise in output, which followed a 1.0% fall the previous month, was largely in line with a 4.0% gain forecast in a Reuters poll of economists. Manufacturers surveyed by the Ministry of Economy, Trade and Industry (METI) expect output to grow 2.1% in February, followed by a 6.1% decline in March.

The government kept its assessment of industrial production unchanged, saying it was picking up.

Factory output fell in November and December as a rebound in car production ended on sagging global demand, but since then strong demand for tech-making equipment and electronic goods has helped turn the tide.

Still, some analysts worry that Japan’s economic recovery will remain hobbled by weaker conditions at home and as lockdown measures taken around the world to contain the COVID-19 crisis, particularly in Europe, weigh.

The government also released data on Friday showing retail sales fell 2.4% in January compared with the same month a year earlier, in a sign households tightened their purse strings as the coronavirus staged a resurgence.

The fall, which was in line with a 2.6% drop seen by economists in a Reuters poll, was largely due to sharp contractions in general merchandise and fabrics apparel spending. It followed a 0.2% fall in December.

Compared to a month earlier, retail sales in January fell 0.5% on a seasonally adjusted basis for the third straight month of declines. But the pace of decline was slower than in the previous two months.

“We think consumer spending will only fall around 1% quarter-on-quarter this quarter,” said Tom Learmouth, Japan economist at Capital Economics.

“We expect it to rise fairly strongly over the coming quarters as the recovery resumes and is soon given a shot in the arm by vaccines,” he added.

(Reporting by Daniel Leussink; Editing by Sam Holmes and Richard Pullin)

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