Bank of China (BOC) Macao Branch and the Macao Telecommunication Company (CTM), Thursday launched the New iT's Mobile Banking Services in Macao, which is expected to boost the number of local 3G mobile phone users.

CTM said in its press release that the mobile banking services will enable customers to enjoy banking transactions and investment activities through CTM's WeWap mobile Internet portal (2G or 3G) at any time.

Vandy Poon, chief executive officer of CTM, expressed his hope that the new services will attract more 3G users, saying"we expect the number of our 3G users will break 100,000 in 2008, since we have already seen a total of 30,000 last year."

The number of CTM's mobile phone users has increased by 20 percent year-on-year in 2007, according to the company.

When asked about service pricing, he said since Macao's mobile service market is more opened than many other places in the world, a total of seven telecom operators competing for customers in the city, CTM's services are priced according to the market demands, which is reasonable to the customers.

To enjoy the new services on the mobile phone, local users will have to pay 10 patacas per month ($1.25) in addition to the regular phone fees, said CTM.