ZTE has launched a range of payment solutions including phone POS (point of sale), photonic and DTV (Digital TV) payment products.
With a 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 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.