Chinese mobile payment service supplier SmartPay has announced intentions to explore the fast growing e-ticket mobile payment market.
SmartPay has already successfully launched the service in Chongqing and Anhui, and it now plans to bring the service to Shanghai, Beijing, Guangdong and other places in China throughout 2007.
As a professional mobile payment service provider, SmartPay has made innovations on both the payment means and product pattern of the e-ticket payment business model. It has developed such payment patterns as mobile phone payment, telephone payment and credit payment using new payment means like SMS, IVR, and WAP for buying an e-ticket. In addition, it has also launched mobile phone airline ticketing to offer more options for consumers and its airline partners.
Shen Guowei, president and CEO of SmartPay, says that the company will work closely with the main Chinese banks, airline companies and air ticket agents to realize payment "at any moment, any place" and strengthen its leading position in the domestic mobile payment market.
According to the company, China's mobile payment market scale reached CNY640 million in 2006, an increase of 75% over 2005 and it will break CNY6 billion by 2010.