CUP, Chinese Gov’t Working on Internet TV Payment Standard

Dec. 30, 2010

Chinese payment card network China UnionPay and various Chinese authorities said they will develop an online payment standard for Internet TV, which is expected to be launched in the first half of 2011. Payments will be made either by implanting a device like a POS terminal into TV remotes or by integrating bank card online payment functions with set top boxes, according to Wu Chunyong, an industry analyst. Wu said he expects the payment to be limited to small sums when the payment standard is first launched and that the standard will inevitably help to lift sales of Internet TVs next year.