- YeePay Recognized as a Top Innovator and the Best e-Payment Platform for China
- BEIJING, June 13, 2006 -- YeePay, a leading e-payment provider in China, was named as one of the ''Top Innovators'' at the ChinICT 2006 Conference in Beijing. YeePay is the first company in China to provide a single platform integrating both online and offline payments, enabling consumers and merchants to send and receive payments over the Internet, mobile and telephone.
- ChinICT 2006 was organized by Tempo2 LLC, a leading Private Equity firm from Silicon Valley and Sina.com, a top Internet portal in China, and was supported by China NetCom, Huawei, Barclays, Thomson, Siemens, CCIPT, the European Commission, and China Internet Society. The conference was the first of its kind in China focusing on innovations in Information & Communication Technologies, presenting companies from both China and Europe. The Top Innovators have been carefully chosen through a very selective process over the past several months.
- YeePay was awarded the Top Innovator Award in acknowledgement of its innovation in payment solutions. YeePay was the first company in China that developed the telephone payment solution and has brought it to market successfully. Telephone payment is an innovative payment method that enables consumers to make payments over the phone using their bank cards. It is widely considered as a tailored solution for the Chinese market, as most people use debit cards instead of credit cards, which made making secure transactions over the phone very difficult. As a complement to YeePay's online payment, telephone payment embraces a much broader market, as in China the mobile/telephone user base is much larger than that of the Internet; and the number of offline businesses is much bigger than that of the online businesses with the e-Commerce development still in an early stage. ''With telephone payment, we can go beyond the limitations of the Internet, we can turn every phone into a virtual POS, and there are 800 million of them, compared to only 40 million PCs connected to the Internet,'' said Chen Yu, VP of Marketing at YeePay, upon receiving the award at ChinICT.
- Earlier this year, YeePay was named as the ''Best e-Payment Platform'' for China at the Annual e-Commerce Fortune Summit organized by the China e-Commerce Association. YeePay was also named as one of the ''Top 50 Innovators'' by the China Internet Society in 2005. ''We take great pride in receiving these awards and being recognized as one of the leading e-payment companies in China. We believe e-Commerce will be one of the fastest growing markets in China and payment is the cornerstone of e-Commerce. We put an emphasis on creating values through innovation, and innovation has always been a part of our culture,'' said Bin Tang, CEO of YeePay.
- About YeePay
- YeePay is the first company in China providing a single platform integrating both online and offline electronic payments, YeePay's innovative solution enables 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, Sohu, TOM Online, Shanda, DangDang, eLong, GoMe Electronics and China Unicom. For more information about YeePay, please visit http://www.yeepay.com
