BEIJING, Sept. 10 /Xinhua-PRNewswire/ -- YeePay, a leading payment service provider in China, announced today that it has partnered with EachNet to provide payment solutions for its newly re-launched consumer-to-consumer online marketplace. As the sole payment provider working with EachNet, YeePay manages the money flows for EachNet's escrow payment service, which allows buyers and sellers to send and receive payments. YeePay also provides user identity verification service for EachNet.
(Logo: http://www.prnasia.com/sa/200611231623-min.jpg )
The new EachNet was setup as a joint-venture between eBay and TOM Online. The new platform is specially designed for the China market with significant enhancements in user experience, providing a secure and enjoyable shopping environment tailored for the buyers and sellers in China. EachNet also partners with many named brands like HP, Logitech, Newman, Asus, BenQ and elite sellers to provide high-quality merchandise.
To win buyers' trust, EachNet provides an escrow service -- An Fu Tong, where payments will be held until buyers are satisfied with their purchases. YeePay's payment service integrates with An Fu Tong and allows the buyers and sellers to send and receive money with bank cards securely and conveniently. Sellers must verify their identities before they can withdraw money from EachNet accounts. YeePay's service also allows EachNet to verify user identity through their bank information.
According to the representative from EachNet, YeePay was chosen because of its ability to provide on-demand solutions tailor-made for the local needs of the China market. YeePay is widely used by many merchants and is known for its high standards in security and reliability. EachNet also values YeePay's ability to innovate and grow with the changing needs of customers.
Commenting on the partnership, YeePay's CEO Bin Tang said that EachNet has been a symbol of eCommerce in China and its re-launch will bring new life to the market. YeePay is committed to providing reliable payment services for EachNet to ensure a secure, convenient and enjoyable shopping experience of its users.
About EachNet
EachNet was set up as a joint-venture between eBay, the world's largest eCommerce company, and TOM Online, a leading wireless Internet company in China, in December 2006.
EachNet was founded in Shanghai, China in 1999. EachNet formed a strategic partnership with eBay in 2002 and has quickly become one of the major online marketplaces in China.
In December 2006, eBay announced its strategic partnership with TOM Online. With eBay's global resources and TOM's local market expertise, the two companies re-launched EachNet in late August 2007 ( http://www.eachnet.com ). The new platform is tailored for the China market, aims to provide an enhanced and more enjoyable user experience and to bring more internet and wireless opportunities for sellers.
About YeePay
YeePay is a leading e-payment service provider in China, with a mission to provide better e-payment solutions and value-added financial services through technology and innovation. Headquartered in Beijing, China, YeePay also has branch offices in Shanghai, Guangzhou, Chengdu and Hohhot. As the first company in China to provide a single platform integrating both online and offline electronic payments, YeePay's innovative solutions enable consumers and businesses to make and receive payments over the Internet, mobile and telephone securely, conveniently and cost effectively. YeePay has formed strategic partnerships with major banks in China. YeePay's customers include leading internet companies and ecommerce websites as well as many merchants in traditional industries, such as Baidu, TOM Online, Shanda, KingSoft, DangDang, eLong, GoMe Electronics and China Unicom. YeePay was recognized as the "Best Payment Platform" by the China eCommerce Association and one of the "China Internet 100 Companies/Top 50 Innovators" by the China Internet Society.
For more information, please contact:
Chen Yu
YeePay.com
Tel: +86-10-6561-0168 x136
Fax: +86-10-6561-0167
Mobile: +86-137-0111-0519
Email: cyu@yeepay.com
