99Bill Corporation has recently announced strategic agreements with Chinese portals Sohu.com, Inc. and China.com, Inc. t

99Bill Corporation has recently announced strategic agreements with Chinese portals Sohu.com, Inc. and China.com, Inc. to provide online payment platform to offer secure, convenient and reliable online payment services for of Internet users in China.

Published: 05 Sep 2005

99Bill Corporation has recently announced strategic agreements with Chinese portals Sohu.com, Inc. and China.com, Inc. to provide online payment platform to offer secure, convenient and reliable online payment services for of Internet users in China.

99Bill claims to be the first company in China offering email and mobile
phone number based online payment platform and solutions.

Under the agreement, 99Bill and Sohu will jointly implement 99Bill's
online payment solutions for Sohu's Online Payment Centre. The
Chinese-language portal offers more than 100 millions Chinese Internet
users diversified products and services, including online contents,
email boxes, Wireless Value Added Services (WVAS), online games among
others.

For 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, said 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," says
99Bill.

Last month, the company and NetEase.com, Inc., one of the leading
portals in China, had announced that the two companies have reached an
agreement to jointly establish online NetEase prepaid card payment
platform.

Also, last month 99Bill had raised an undisclosed Series A round of
venture funding led by DCM - Doll Capital Management and Peninsula
Capital. 99Bill to utilize funding to further develop its technology
platform, as well as increase the adoption of its payment platform among
partners and Internet users in China.

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