Vesta Corporation and ChinaDotMan Company have announced the formation of an alliance to develop the Chinese virtual payments businesses. The cooperation takes the form of an equity investment by Vesta in ChinaDotMan.

t is unclear how much money Vesta gave to the company and what percentage of Chinadotman they now own.

ChinaDotMan has introduced an e-ticketing service that gives mobile users in China the ability to browse and book air tickets in real time using their cell phones. E-tickets are purchased through a user's credit card. Zhangshangtong 9588 provides an easy-to-use, complete service offering in the field of mobile payments.

Established in 2000, ChinaDotMan Company Ltd is a software developer and systems integrator for the telecommunications, mobile and data communications sectors. ChinaDotMan combines mature network, communications and software technologies to develop different kinds of practical and beneficial wireless content and application services for end users.

China currently has many competing online payment services from companies like Alibaba, eBay, and Smartpay.