99Bill as signed a deal with Baidu to provide 99Bill's online payment platform to support Baidu's search engine services such as "Pay for Performance" and "Movie Search."
With 99Bill's solutions, Baidu says it will be able to establish a more convenient and secure online payment platform that enables its customers and users to purchase Baidu's products and services directly on the Internet.
This partnership is part of 99Bill's ongoing efforts to secure strategic relationships with leading Internet companies in China and establish the company as a leading third party online payment service provider in China.
With average daily page views exceeding 100 million, Baidu provides a variety of search related products and services including search for music, photos and news as well as post bars.
Its "Pay for Performance" is a targeted online marketing service that has become increasingly popular for its high ROI
compared to traditional online advertising model, especially among small to medium sized enterprises in China. Recently, Baidu introduced "Movie Search" service, a monthly subscription based service that allows Internet users to search and download thousands of movies provided by leading movie content providers in China.
According to the partnership agreement, 99Bill will provide secure, real time and convenient online payment platform to support Baidu's "Pay for Performance" and "Movie Search" services. 99Bill will also offer relevant products and services to Baidu's customers and users, such as bank card processing services, online payment and merchant tools, as well as basic account management tools to track account details and transaction history. In addition, with its diversified products and services, 99Bill will continue to explore other partnership opportunities with Baidu, such as digital coupon and recurring billing services in the future.
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 service by mobile operators.
To meet the growing market demand for comprehensive and integrated online payment solutions, 99Bill officially
launched its online payment services in China early this year. Now, anyone or any business with a verified email 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 on 99Bill platform without the need to expose recipient's personal information such as bank account, name and address.
In addition, Internet users and business customers can choose from 99Bill's diversified product portfolio and innovative merchant tools to meet their personal and business needs. 99Bill has established direct debit card and credit cards processing capacity with leading domestic banks in China, enabling any online user and business to receive debit and credit payment covering over 2.7 billion international and domestic issued bank cards. The company is committed to develop innovative and high value-added services to serve the growing market demand for fast, secure and convenient online and wireless payment solutions in China.
