SmartPay Expands Mobile Air Ticketing Payments Services
Industry leader Leverages its creativity in Mobile Payment Services Field
SHANGHAI, China, Dec. 27 /Xinhua-PRNewswire/ -- Shanghai SmartPay Jieyin Ltd., ("SmartPay") an electronic payment services leader in China, today officially announced an aggressive expansion into the airline e-ticketing market.
After successfully launching its mobile payment services such as cellular phone top-up and utility bill payment, SmartPay will leverage its technology and presence with banks, merchants and partners to rapidly expand its presence in the electronic air ticketing market.
SmartPay’s mobile airline ticketing service was launched in trial mode in Chongqing and Anhui in the third and fourth quarters of 2006. Consumers contact SmartPay’s local call centers to apply (023-8903-1003 in Chongqing and 0551-263-0583 in Anhui). Expansion will now roll out across the 12 provinces in which SmartPay has a local presence. These will include Shanghai, Beijing and Guangzhou.
As a leading electronic payment services expert in China, SmartPay will leverage its creativity on payment service models, local market presence and network of partnerships as it expands in mobile air ticketing. SmartPay will also utilize multiple channels to address air ticketing consumers, such as SMS, KJAVA and WAP via mobile phones, IVR via mobile and fixed line telephones, and credit card payments.
SmartPay’s CEO, Greg Shen, commented, "Airline e-ticketing is one of the most rapidly increasing markets among the electronic payment industry. SmartPay will continuously strengthen the strategic partnership with the major banks, airlines and air ticket agencies, and realize the vision of ‘SmartPay Payment, Anytime, Anywhere', so as to better satisfy the desire of customers while consolidating SmartPay's leading position in domestic mobile payment industry.”
The electronic payment market has been growing at more than 30 percent a year in recent years. The related data from the market research companies shows that the Gross Merchandise Volume (GMV) in this market in 2006 will reach RMB 60 billion, and the GMV in 2007 is expected to exceed RMB 70 billion. Mobile payment in China is particularly promising. Forecasts suggest that transaction volumes will reach RMB 640 million, a 75% increase over full year 2005. In 2007, the GMV of the mobile payment market is expected to achieve more than RMB 6 billion.
About SmartPay Jieyin Ltd.
SmartPay provides remote payment services in China under the brand name "Jieyin". Chinese consumers and intermediaries utilize SmartPay Jieyin for the payment of mobile, utility, travel-related and other payments. 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.
