99Bill and Perfect World to Promote Online Payment

2007-10-30 17:42 1091

BEIJING, Oct. 30 /Xinhua-PRNewswire/ -- 99Bill Corporation ( ), the leading payment service provider and the first company in China offering email and mobile phone number based online payment platforms and solutions, has formed a strategic alliance with Beijing Perfect World Network Technology Co., Ltd. ("PW Network" ), a leading online gaming operator, to jointly promote online game and online payment markets. Under the agreement, 99Bill will provide PW Network with integrated B2B and B2C payment solutions covering debit cards, credit cards and prepaid refilling cards to all game titles, including Zhu Xian, Legend of Martial Arts, Perfect World and Perfect World II.

PW Network is one of the largest online gaming developers and operators, operating a number of leading games in China including Zhu Xian, Legend of Martial Arts, Perfect World and Perfect World II. The online payment solutions provided by 99Bill will enable Perfect World’s customers to enjoy a number of convenient and efficient services such as online top-up services for prepaid cards.

China’s online gaming industry is expected to generate 9.7 billion RMB this year, making it one of the world’s most lucrative markets. Yet, home-grown online games account for only 10 percent of the total games available in the country. The alliance between 99Bill and Perfect World comes at a time when the government is providing a strong backing to home-grown games.

An industry specialist noted, "It’s natural for online gaming operators to work with 99Bill to jointly tap into the booming Chinese market. Collaboration with 99Bill will significantly change the landscape of the industry and make China’s online gaming market more internationalized."

"Online payment is gaining significant momentum in the gaming industry. It is not only improving user experience, but also significantly cutting transaction costs," said Oliver Kwan, CEO of 99Bill. Kwan added that the gaming sector has been one of the priorities for 99Bill, which has been devoted to developing a number of innovative and secure services based on B2C and B2B payment services such as bankcards and China Mobile’s prepaid mobile phone services.

The global online games market is projected to grow 71 percent to US$86 billion in the coming five years. Online games have been a high-growth industry among the vertical Internet applications in China. The alliance between 99Bill and PW Network will provide a better online payment experience for online game players, enhance the efficiency of the online gaming industry, and improve the core competitiveness of China’s gaming industry.

About 99Bill Corporation

99Bill Corporation ( ) is the leading third party payment service providers in China with 18 million registered accounts, and the first email and mobile number based payment services platform in China targeting 450 millions Internet and mobile users. The comprehensive payment solutions enable any merchant, mobile user and Internet user to make and receive payments securely and conveniently with 1.1 billion local debit cards, 50 million credit cards, prepaid cards, mobile payments, virtual accounts, digital coupons, bank wires and postal wires. Additionally, the payment services support multiple end devices, such as PCs, mobile phones, IVRs and landline telephones. Since its launch early 2005, 99Bill has secured major partnerships for payment services with the leading service providers in China, such as Baidu, Netease, Sohu, and Gome.

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Source: 99Bill Corporation
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