BEIJING, April 5 /Xinhua-PRNewswire/ -- YeePay, a leading provider of innovative e-payment services based on Internet, mobile and telephone in China, announced today that it has received the National Information Security Certification from China Information Technology Security Certification Center (CNITSEC), becoming the first independent third-party payment provider to attain such certification. This will further strengthen YeePay's competitive advantage and its market position, and increase consumer and merchant confidence in adopting e-payment.
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CNITSEC is the government authority responsible for IT security evaluation and certification in China. It is mandated for IT security products, information systems and service providers to ensure product and service quality and security management. The certification and evaluation processes include assessment of the system design, analysis of security procedures, tests of critical product or service elements, and onsite inspection of system operations. YeePay received the certification after going through a rigorous set of systematic evaluations conducted by CNITSEC.
YeePay's platform was designed and developed with high security standards in mind. The transaction system is built on IBM technology stack, which is widely used in mission critical and high security systems in China's banking and financial services industry. YeePay work closely with major banks to implement various security measures to minimize risks, including data transmission encryption, security key management, cardholders' information isolation, service access logging, real-time transaction monitoring and preemptive fraud detection.
YeePay also pioneered in introducing telephone payment to the market, which enables users to make payments over the phone using their bank cards. The solution is based the existing telephone banking systems, by integrating payment option into banks' IVR (Interactive Voice Response) menu. Telephone payment is more secure because the phone network is a relatively closed and proprietary system, free from many potential security threats like Trojan horses and viruses on the Internet. The three-factor payment authorization based on a combination of phone number, card and password further reduces security risks.
Surveys on e-payments consistently indicate that security has been users' paramount concern in China. The new CNITSEC certification assures that YeePay's payment platform meets all the required security standards, provides consumers and merchants with the confidence that they can send and receive payments securely and reliably using YeePay's service.
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 "Top 50 Innovators" by the China Internet Society.
For more information about YeePay, please visit http://www.yeepay.com .
