BEIJING, Aug. 25 /Xinhua-PRNewswire/ -- 99Bill Corporation (http://www.99bill.com/ ), the first company in China offering email and mobile phone number based online payment platform and solutions, announced today that it has reached strategic agreements with leading Chinese portals Sohu.com, Inc. and China.com, Inc. Under the agreement, 99Bill will provide its industry- leading online payment platform to enable Sohu and China.com to offer secure, convenient and reliable online payment services for tens of millions of Internet users in China.
As the world's premier Chinese-language portal, Sohu currently offers more than 100 millions Chinese Internet users diversified products and services, including online contents, email boxes, Wireless Value Added Services (WVAS), online games, enterprise yellow pages, and online search service. Under the agreement, 99Bill and Sohu will jointly implement 99Bill's online payment solutions for Sohu's Online Payment Center and offer secure, convenient and reliable online payment services to millions of Internet users in China. The payment services will cover all the existing products and services offered by Sohu, and support Sohu's value added services and business partners as well.
Under a separate agreement with China.com, 99Bill will provide online payment services for China.com's business customers, as well as individual users, and both companies will jointly develop additional payment features to enable revenue generating and valued-added online services.
"As the first company in China offering email and mobile phone number based online payment platform, 99Bill has achieved rapid growth in recent months. Our partnerships with Sohu and China.com demonstrate again the rapid adoptions of 99Bill's payment solutions by the leading Internet companies, as well as online users in China. We will continue to develop innovative and local focused payment solutions for China market." says Oliver Kwan, CEO of 99Bill.
Recently, 99Bill has reached strategic agreements with multiple leading Internet companies in China including, Baidu, NetEase and Tom Online. The total transaction volume of Internet products and services, as well as wireless value-added services in China, reached USD $2.8 billion in 2004. However, most of these transactions were conducted through legacy and high- cost payment means, such as C.O.D, postal wire, pre-paid cards and bill collection services by mobile operators. Now on the 99Bill platform, anyone or any business with a verified e-mail address or a mobile number can accept debit card and credit card payment in real time and send and receive payments easily, securely and promptly without exposing the recipient's personal information such as bank account, name and address. In addition, Internet users and business customers can choose from 99Bill's diversified product portfolio and innovative merchant tools to meet their personal and business online payment needs.
About 99Bill
99Bill Corporation is the first company in China offering email and mobile phone number based online payment platform and solutions. The Company's founding members are seasoned entrepreneurs in China's Internet industry and have extensive experience in product development, technology innovation, marketing and capital financing. The company's products and services aspire to provide secured, integrated and confidential payment platform, as well as innovative payment and merchant tools to e-commerce operators, Internet and wireless service providers and individual users. 99Bill's payment services currently cover over 2.7 billion domestic and international debit and credit cards, as well as support bank wire, postal wire and pre-paid card transactions. 99Bill is currently partnering with leading domestic and international Internet companies to enable payment collections for various Internet and wireless applications and will continue to introduce new products and services to the market in the near future. For further information, please visit http://www.99bill.com/ .
For more information, please contact: Ms. Olive Zhou/Janet Mu 99Bill Corporation Tel: +86-10-8454-9510 x802/809 Fax: +86-10-8454-9515 Email: ozhou@99bill.com/jmu@99bill.com Mr. Wang Zhao / Zeng Mingxuan Beijing Proway-Consulting Information Service Co. Tel: +86-10-8284-5139 / 37 ext. 213 / 215 Fax: +86-10-8284-4520 Email zeng@proway-consulting.com
CONTACT: Ms. Olive Zhou and Janet Mu, both of 99Bill Corporation, +86-10- 8454-9510 x802 or x809, or fax +86-10-8454-9515, ozhou@99bill.com/jmu@99bill.com
Web site: hhtp://www.99bill.com
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