BARNSTEAD, N.H. and CHONGQING, China, Oct. 22 /PRNewswire-Asia/ -- Pay88, Inc., through its wholly-owned subsidiary, Qianbao Technology, announced today that it has signed a Letter of Intent with People Impact International to market PII's popular online edutainment program, e@Leader.
e@Leader is an online learning program that was developed by Dr. Anthony Dickinson, PhD, a renowned Professor from Washington University Medical School and a Chartered Psychologist with over 20 years of brain research on intelligence. The program has been proven to build intelligence in children, ages 7 months to 18 years.
e@Leader is widely recognized and is currently used by more than 400 schools in Hong Kong, Singapore and Malaysia. The program combines education with an entertaining format (edutainment) and is an integral part of People Impact International's vision to reform the landscape of the global learning environment by developing sophisticated education content and implementing strategic marketing activities to continuously reach and enhance the intelligence of children in the 21st Century and beyond.
Guo Fan, Chairman and President of Pay88, stated that Qianbao Technology, is perfectly positioned to capitalize on the growing trend toward edutainment and is excited to be finalizing agreements with PII to market the e@Leader program. He stated, "We see this as an opportunity to market an excellent product to our existing customer base and to attract new customers who recognize the value of this well-respected program." He added, "Pay88's large customer base and payment platform makes this agreement with PII an exciting opportunity for both companies.
About PII
People Impact International Inc. (PII) is a multi-national company focusing on Research and Development of brain intelligence enhancement training content. PII's Academic Research Laboratory team has over 50 members around the world and is led by prestigious professionals from world-class universities including the University of Edinburgh, Washington University, the University of Michigan, Harvard and MIT.
PII's programs are designed for children, aged 7 months to 18 years, and are offered through onsite training centers and online edutainment training platforms. Each is fully supported by unique, professional psychometric measurement services. These programs are used in eleven countries and more than 30,000 children in Asia have participated in or are currently interacting with their training programs.
About Pay88, Inc.
Pay88, Inc., through its wholly-owned subsidiary, Chongqing Qianbao Technology, Ltd., is a rapidly growing digital technology company and the leading reseller of internet game time in China with over $19.7 million USD in revenues in 2008, a 134.8% increase over revenues in 2007. The company is primarily engaged in the sale of prepaid online multi-player game cards in more than 20 cities in China, an industry that generated $2.75 billion in 2008 and is expected to reach $3.8 billion by the end of 2009.
Qianbao sells its game cards through its websites, http://www.iamseller.com and http://www.17logo.com which has more than 1 million registered users. The Company has successfully captured more than 80% of the online multi-player game time market in Chongqing, a municipality of more than 31 million people, and the third fastest-growing regional economy in China. Pay88 leverages such consumer establishments as retail kiosks and internet cafes to increase its distribution of highly popular games for an increasing number of gaming companies.
In addition, the Company sells prepaid telephone cards and over 800 software products, including cooking, language and education software.
For additional information visit:
http://www.Pay88.com
http://www.iamseller.com/English/Index.aspx
Forward Looking Statements
Certain information contained in this news release, including without limitation, statements related to Pay88's outlook for 2009, which are based on management expectations, are considered forward looking statements. Investors and prospective investors are cautioned about factors which have in some cases affected Pay88's actual results and could affect its actual results and cause them to differ materially from those expressed in any such forward looking statements. Actual results may also differ due to factors over which the Company has no control including general economic and business conditions, earthquakes or effects of war or terrorists acts on the capital markets or on company activities. Please refer to Risk Factors contained in the Company's annual report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2009.
For more information, please contact:
Payy88, Inc.
Tel: +86-23-6775-7997
Fax: +86-23-6775-7887
Email: China@pay88.com
