China's 99Bill outlines mobile payments strategy

Source: 99Bill

99Bill, China's leading independent third-party payment service provider, joined with its partners recently in Beijing to launch its new '99Bill+' payment platform and announce its strategy for mobile payments.

The event was attended by over 100 guests, including banking partners, operators, device manufacturers, merchant partners, as well as industry analysts and the media.

'99Bill+' is a collaborative and open platform that integrates the company's existing expert personnel, products and services, which help customers improve capital efficiency, with the addition, or '+', of participation by partners, merchants and users. Through an open and collaborative platform, '99Bill+' offers a seamless linking of the end-user's back-end payment system and 99Bill's front-end e-commerce platform. This enables clients to embed all kinds of new and innovative applications aimed at improving user experience and speeding up the growth of their business. The following are a few facts about each of our three '+' factors:

* +Partners: 99Bill has put great emphasis on developing its industry chain and has over 80 banking or financial institutions with over 300 access points.
* +Merchants: 99Bill has over 1.1 million merchant partners that span 20 industries, including travel business, insurance, online shopping, logistics, clothing and education, etc.. 99Bill was the first to provide these merchant partners with innovative services like no-card credit card payment, large-amount online payment support and IVR voice payment.
* +Users: The '99Bill+' platform is meant to be a quick and easy tool that covers all kinds of payment devices and media used across a range of payment scenarios so that users have the best experience possible when making a transaction.

With the growth of 3G, a great deal of e-commerce has gone mobile. Recognizing this trend, 99Bill has reallocated resources to form a new strategy that puts each of the '+ factors' of '99Bill+' at its core - partners, merchants and users - integrating them into a mobile payment ecosystem that provides overarching support for all their needs.

During the announcement, 99Bill also revealed a new mobile payment product thuct that supports multiple operating systems and turns the user's mobile phone into a portable POS device to carry out remote payment, mobile receipt of incoming funds, management of incoming funds for SMEs and P2P payments. At the same time, 99Bill released a new form of 'mobile payment middleware' that can be seamlessly integrated into client applications, allowing users to finish payment on the same interface as the initial purchase was made, which greatly simplifies the payment process and results in more successful payments.

99Bill CEO Oliver Kwan said, "e-Commerce is driving the development of specialization and cooperation throughout the entire industry chain. This will ultimately lower costs and improve the level of service. It has also resulted in the emergence of an open, integrated and coordinated industry ecosystem in which 99Bill is using its technological advantages, in partnership with others in the industry, to develop innovative financial services that can better serve our clients."

Analysts see 99Bill's decision to launch '99Bill+' platform with mobile payment strategy at this time as a clear signal that the company has shown clear core competitiveness and positioning that puts it in a leading position in the e-payment industry since 99Bill won multiple PBoC payment licenses.

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