BEIJING, Oct. 31 /PRNewswire/ -- YeePay, a leading provider of innovative
e-payment services based on Internet, mobile and telephone in China, announced
partnership with the largest online retailer in China - Dang Dang, to provide
exclusive payment service for Dang Dang Mall (mall.dangdang.com), a new online
store hosting program that allows merchants to sell their goods through Dang
Dang's network. This is the second time the two companies collaborated since
YeePay started providing online payment solution for Dang Dang's main online
store, indicating a growing market trend that major ecommerce platforms in
China favor to work with third-party payment service providers.
(Photo: http://www.newscom.com/cgi-bin/prnh/20051211/CNM005 )
Dang Dang Mall (mall.dangdang.com) is an online marketplace that enables
third-party merchants to sell their merchandise on Dang Dang's ecommerce
platform, as complementary to its own online store. As a key part of its
marketing strategy, Dang Dang recently launched the new marketplace service to
meet the increasing customer demands for product diversity, especially for
non-book merchandise. Dang Dang Mall has been well received in the market by
consumers and merchants since its debut. More than 3000 merchants have
subscribed to this service and opened up storefronts on Dang Dang's platform.
Dang Dang has been a pioneer in China's ecommerce market. Traditionally
most of the ecommerce transactions in China follow a hybrid model of "order
online, pay offline by cash on delivery," which is very inefficient. In
contrast, Dang Dang Mall promotes a complete end-to-end ecommerce solution
with most of the merchants supporting electronic payments, therefore bringing
a better user experience. As the exclusive payment provider, YeePay's service
has been integrated into Dang Dang Mall's transaction platform, allowing
customers to make online payments securely and conveniently using their bank
cards. In addition to online payment, YeePay's innovative telephone payment
enables customers to make payments by dialing into the telephone banking
service of their own bank.
Commenting on the partnership, Chu Mingli, Assistant President at Dang
Dang, said, "YeePay has been a close partner of Dang Dang. Our previous
collaboration in online B2C payment was very successful and has laid a solid
foundation for this new partnership. YeePay's payment platform had been proven
efficient and reliable. Dang Dang Mall is a continuation of our existing
partnership, it also breaks new ground in that we introduced telephone payment
into our platform for the first time. We chose YeePay because it has a total
solution integrating both online and offline payments, giving our customers
more options. We can streamline the payment process and make online shopping a
more enjoyable experience for our customers."
Bin Tang, CEO of YeePay, said "Dang Dang is a symbol of China's ecommerce.
The launch of Dang Dang Mall will effectively complement Dang Dang's existing
business and strengthen its market leadership position. We expect to see
tremendous growth of merchants, consumers and transaction volume with this
scalable marketplace model. As the exclusive payment provider for Dang Dang
Mall, we are confident to meet our customer's requirements and grow with its
business, and help drive the overall development of ecommerce in China."
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, Sohu, TOM Online, Shanda, KingSoft,
DangDang, eLong, 800Buy, GoMe Electronics and China Unicom. YeePay was
recognized as the "Best Payment Platform" by the China eCommerce Association
and one of the "Top 50 Innovators" by the China Internet Society.
For more information about YeePay, please visit www.yeepay.com.
About Dang Dang
The largest online retailer in China, Dang Dang offers a wide range of
consumer products, and is the world's leading online seller of Chinese-
language books, movies and music. From what was a concept a few years ago to a
miraculous execution today, Dang Dang offers its customers exceptional product
choice, user-friendly search mechanisms, flexible payment solutions and timely
delivery. The company takes a firm leadership role in revolutionizing shopping
for books, movies, music and consumer products, consequently bringing quicker
and easier access to the world of information, knowledge, entertainment and
online consumption. Launched in November 1999, Dang Dang offers approximately
300,000 product selections. For more information, please visit
www.dangdang.com.
