BEIJING, September 25, 2012 /PRNewswire/ -- Trunkbow International Holdings Limited (NASDAQ: TBOW) ("Trunkbow" or the "Company"), a leading provider of Mobile Payment Solutions ("MPS") and Mobile Value Added Solutions ("MVAS") in China, today announced that it has been selected to develop and implement a new electronic payment system for China Minsheng Banking Corp., Ltd. ("CMBC"), China's first national joint-stock commercial bank, serving non state-owned enterprises, small businesses and high-end consumers.
Under the agreement, Trunkbow is developing a complete back-end system, which includes a gateway to the clearing-house, an express payment option for websites and mobile apps, and a merchant management system. CMBC plans to complete the implementation of this technology in the fourth quarter of 2012 or first quarter of 2013. It will enable one-click payments for online and mobile purchases made by CMBC's 10 million credit card holders.
"This agreement with CMBC represents another important step forward for our business. Access to CMBC's large, growing customer base will substantially extend our reach, as we now have solutions that allow carriers, merchants, processors and banks to improve the payment experience for their customers," said Mr. Qiang Li, CEO of Trunkbow. "We continue to leverage Trunkbow's technological expertise and leadership position in the MPS market to enter new, complementary segments such as proprietary e-payment systems. This is a highly secure, cost-effective platform that will enable CMBC to offer credit card customers and merchants greater online payment flexibility in both the desktop and mobile environments. We are solidifying our position in the mobile arena, while extending our presence into other areas of the broader payments ecosystem. With our merchant acquisition efforts gaining traction, our prospects for the remainder of 2012 and into 2013 remain strong, and our longer-term growth potential has become even greater through this latest offering."
Trunkbow's product portfolio currently includes POS and app-based mobile payment products, online-to-offline payment and mobile applet offerings in conjunction with China UnionPay. Trunkbow is also developing a cloud-based MPS solution.
About Trunkbow
Trunkbow International Holdings (NASDAQ: TBOW) is a leading provider of Mobile Payment Solutions ("MPS") and Mobile Value Added Solutions ("MVAS") in PRC. Trunkbow's solutions enable the telecom operators to offer their subscribers access to unique mobile applications, innovative tools, value-added services that create a superior mobile experience, and as a result generate higher average revenue per user and reduce subscriber churn. Since its inception in 2001, Trunkbow has established a proven track record of innovation, and has developed a significant market in both the Mobile Value Added and Mobile Payment solutions markets. Trunkbow supplies its mobile payment solutions to all three Chinese mobile telecom operators, as well as re-sellers, in several provinces of China. For more information, please visit www.trunkbow.com.
Safe Harbor Statement
This press release contains forward-looking statements that reflect the Company's current expectations and views of future events that involve known and unknown risks, uncertainties and other factors that may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such forward looking statements involve known and unknown risks and uncertainties, including but not limited to uncertainties relating to the Company's relationship with China's major telecom carriers and its resellers, competition from domestic and international companies, changes in technology, contributions from revenue sharing plans and general economic conditions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. You should understand that the Company's actual future results may be materially different from and worse than what the Company expects. Information regarding these risks, uncertainties and other factors is included in the Company's annual report on Form 10-K and other filings with the SEC.
Contact Information:
In China: | In the U.S.: |
Trunkbow International Holdings Limited | The Piacente Group |
Ms Alice Ye, Chief Financial Officer | Brandi Floberg/Lee Roth |
Phone: +86 (10) 8571-2518 (Beijing) | Phone: + (1) 212-481-2050 (New York) |
Email: ir@trunkbow.com | E-mail: trunkbow@tpg-ir.com |
The Piacente Group | |
Stella Sun | |
Phone: +86 (10) 6590-7991 (Beijing) | |
E-mail: trunkbow@tpg-ir.com |
