China Telecom signs mobile payment partnership

Trunkbow International Holdings Limited (Beijing, P.R.C.), a provider of mobile payment services, on Thursday announced that it has signed a formal strategic partnership agreement with Tianyi e-Commerce Limited, a wholly owned subsidiary of China Telecom (Beijing, P.R.C.), for the development and marketing of China Telecom's Bestpay m-commerce payment application. Under the agreement, Trunkbow is to provide application development and support services for the mobile application, which was rolled-out to China Telecom's 3G subscribers across mainland China in August.

Trunkbow receives revenue from the Bestpay application on a per-transaction basis, according to government-stipulated terms, and range from 2-4% of the gross value of the end-user's total transaction. In addition, Trunkbow will receive individual commission payments from specific merchants for sales generated through the Bestpay application, according to the company.

Since the launch of the application, Trunkbow has signed an agreement with a group of online retailers, allowing for the purchase of movie tickets at over 270 theaters nationwide via users' mobile phones, according to the company. Trunkbow is also negotiating the terms of potential cooperation agreements with several nationwide quick-service restaurant chains and utility providers, which will allow users to pre-order fast food meals or pay utility bills.

The nationwide launch of the Bestpay mobile application allows China Telecom's 3G subscribers to complete online transactions, including the payment of telephone and other bills, purchase of lottery, movie and event tickets and online gaming "point cards," as well as checking transaction records and account balances using Trunkbow's, phone-based application. The application is pre-installed on China Telecom's Android-based Tianyi 3G handsets, while users of other devices can download the app either over the air or through China Telecom's website, says Trunkbow.

Trunkbow and Tianyi will collaborate on the development and expansion of the Bestpay merchant network, as well as marketing of the Bestpay application and service platform to China Telecom's 3G mobile subscribers, says Trunkbow. In addition, Trunkbow will work with merchants on the development of m-commerce payment applets, which will be designed to process specific types of transactions or transactions for specific online and physical merchants. Under a separate technology partnership, the Companies have collaborated on the development, beta testing, launch and ongoing support of the core Bestpay application, says Trunkbow.

Related Articles

China Telecom gains 2 million 3G subscribers in August

China Telecom plans to launch iPhone

Round-up: Telecom operators report Q3 results

ArticleTools

Featured Reports

Content Delivery Networks (CDN) 2015
Content Delivery Networks (CDN) represent large distributed system of servers deployed in multiple data centers across the Internet. CDNs provide solutions for efficiently and effectively managing content of all types. Solutions include core services such as aggregation, management, and distribution of content as well as a variety of value-added functionality.

 

Cable Carrier Wi-Fi: MSO Take MNO Market Share
How does a cable provider gain a bigger piece of the telecom market pie chart? With a clever Wi-Fi strategy, cable providers are in a unique position to dominate the residential and business telecommunications markets. This is the portent of things to come in the very near future: an MSO as MNO play.

 

Structured and Unstructured (Big) Data in Telecom Analytics
This report provides the reader with a broad understanding of telecom data (structured and unstructured/big data) and related analytics. The report identifies market drivers and opportunities as well as forecasts for certain key growth areas such as deep packet inspection.

 

Affordable Market Reports on Big Data, IoT, CDN & More!
Access the exclusive new series of market research reports brought to you through the partnership of Mind Commerce research and TelecomEngine.com.
Browse the latest titles

 

 

Featured Events & Partners

The Telecom Exchange (TEX)
Wednesday, June 24, 2015

Cipriani Wall Street, New York City

Designed to navigate enterprise and carrier network operators through all carrier hotels and colocation houses available in the US and globally.

Visit event website...