SmartPay Partners With China Merchants Bank to Develop Nationwide Payment Services

SmartPay Partners With China Merchants Bank to Develop Nationwide Payment Services

September 05, 2006

    SHANGHAI, China, Sept. 5 /Xinhua-PRNewswire/ --
Shanghai SmartPay Jieyin Ltd. ("SmartPay"), a
leader in Chinese consumer payment systems, announced a
nationwide partnership with China Merchants Bank
("CMB") today to jointly develop the mobile
payment market.

    According to partnership agreement, CMB customers will
be able to enjoy convenient mobile payment services using
SmartPay's mobile and telephone payment platform. Services
include purchasing airline e-tickets, digital goods,
lottery tickets, payment of utility bills including pre-
and postpaid mobile usage and to participate SmartPay
promotional activities. A number of new initiatives are
planned to broaden and diversify offerings toward
consumers.

    CMB and SmartPay believe that their increased
cooperation in nationwide payment services will demonstrate
continued leadership in making mobile and telephone payments
more attractive for consumers, as well as increasing
transaction volume and revenue.

    About SmartPay Jieyin

    SmartPay is a leader in developing mobile and
phone-based payments for Chinese consumers. SmartPay has
built a network of millions of users and key strategic
merchants including telecom operators, utilities, airline
ticketing agencies and lottery agencies, amongst others,
allowing convenient and effective peer to merchant and
peer-to-peer payments. 

    For more information, please contact:

     Janet Yu
     Tel:   [phone]                             
     Email: [e-mail]
  
SOURCE  Shanghai SmartPay Jieyin Ltd.