SHANGHAI, Feb. 23 /PRNewswire-Asia/ -- 2008 was a difficult year for a large number of companies, as China’s mobile payment leader, SmartPay maintained substantial growth during the challenging time.
SmartPay was one of first third-payment companies established in China and was the pioneer in mobile payment; through in-depth co-operation with banks and telecom operators, SmartPay has built a mobile payment focused system along with landline payment, online payment, SMS payment and other payment options. Since establishment, SmartPay kept abreast of demands of individual customers and merchants; upon analyzing usage habits of customers, SmartPay launched a series of payment solutions tailored to fulfill customer needs. In April 2008, SmartPay introduced SZX payment, a solution for virtual goods purchase, and following which SmartPay provided SZX payment for a number of major online gaming companies including Moliyo. Later in the year, SmartPay upgraded its Money Transfer platform with China Unicom, enabling transferring money from dealers to Unicom’s account with a single SMS. Aiming to solve cash flow problems for large and medium sized merchants, SmartPay developed Mobile B2B for the merchants to manage receivables from geographically scattered channels and dealers. At the end of the year, SmartPay saw gross profit increased by 7 times.
As the government issued 3G licenses to the three telecom operators in China, SmartPay is in talks with the operators to develop payment solutions for 3G phone users.
About SmartPay Jieyin (http://www.172.com / http://www.smartpay.com.cn )
SmartPay provides remote payment services in China under the brand name "Jieyin". Chinese consumers and intermediaries utilize SmartPay Jieyin for the payment of mobile services, utilities, travel-related expenses and other expenditures. SmartPay continues to launch additional payment services under the "Jieyin" brand name. Investors in SmartPay include RRE Ventures ( http://www.rre.com ), Evolution Capital, Lunar Group Capital, Accel Partners and others.
