On Track Innovations Ltd. (OTIV)

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China Mobile Ltd, the world's biggest mobile operator by subscriber base, said on Wednesday that it has developed the first TD-SCDMA 3G mobile phone supporting the Near Field Communication technology.

NFC is short-range communication technology that can be incorporated into mobile phones to perform functions such as paying for goods or swapping information.

NFC mobile phones can help the operator promote its mobile payment services, since the telecom carrier is trying to find ways to boost its sluggish revenue growth.