Payment standard for Internet TV to be implemented next year

Global Times | December 29, 2010
China UnionPay and various Chinese authorities plan to draft an online payment standard for Internet TV which is expected to be launched in the first half of 2011, according to a report of the National Business Daily Tuesday, citing Liu Fengjun, assistant president of China UnionPay.
There may be two ways for the online payments: one is to implant a device like the POS terminal into remote controllers, and another way is to equip digital TV set-top boxes with bank card online payment functions, said Wu Chunyong, an industry analyst.
The payment may be limited to small sums worth several thousands of yuan when the payment standard is first launched, Wu also said, and the standard will inevitably help to lift sales of Internet TVs next year.
News article via Global Times