CHONGQING, China, May 8 /Xinhua-PRNewswire-FirstCall/ -- Pay88 Inc. (OTC Bulletin Board: PAYI) announced today that it will continue to accelerate its growth initiative for the sale of prepaid online multiplayer game cards in 2007 through its wholly owned subsidiary, Chongqing Qianbao Technology Ltd. ("Qianbao"). As expected, the marketing team and technology obtained after the Qianbao acquisition has been instrumental in penetrating the Chongqing market where they have aggressively pursued the prepaid online multiplayer game card market establishing themselves as a leader in the provision of prepaid online multiplayer game cards in Chongqing.
"We have been able to get the exclusive rights to distribute prepaid online multiplayer game cards for 8 different companies which includes about 50 different very popular online games," stated Guo Fan, Pay88's CEO in a telephone interview earlier this week. "I am very pleased with what our team has been able to accomplish over a relatively short period of time," added Mr. Fan. "When we acquired Qianbao, we gained a lot of different products and we have had great success with the prepaid cards. In the short term, we plan on focusing on the prepaid online multiplayer game cards and using the model we have had for success in Chongqing to expand into other cities."
Over 20 cities have been selected for their expansion plan based penetration records gathered from their online sales. Sales of the online multiplayer game cards have already been established in advance of their planned roll out making these cities prime targets for rapid expansion. Pay88 is committed to continuing to ramp up sales by focusing on the online multiplayer game cards market by simply replicating their proven distribution strategy which has been implemented in Chongqing.
About Pay88
The Company focuses on the reselling of prepaid digital multiplayer game cards amongst many other prepaid digital products.
Pay88 is committed to providing through its wholly owned subsidiary, Chongqing Qianbao Technolgy Ltd., 1) prepaid digital cards and other consumer products through established distribution networks and online web presence. Pay88 currently operates an online digital shopping mall at http://www.iamseller.com , and 2) a safe, secure and easy-to-use mechanism for transferring money and making online purchases.
Qianbao is based in Chongqing, China, a city of over 30 million inhabitants.
Certain information contained in this Press Release is considered forward looking statements. Investors and prospective investors are cautioned about significant factors which have in some cases affected our actual results and are in the future likely to affect our actual results and cause them to differ materially from those expressed in any such forward-looking statements. This Press Release contains forward-looking statements relating to future activity, including generating future sales and profitability. The Company's results may be affected by, among other factors, inability to generate sales, penetrate any additional markets, acceptance of the Company's products in the marketplace, technological problems and competition. Actual results may also differ materially from any forward looking statements as a result of factors over which we have no control, including general economic and business conditions. The Company encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB and Form 10-QSB. The Company's public filings may be viewed at http://www.sec.gov .
