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HONG KONG, Dec 29, 2014 - (ACN Newswire) - econtext Asia Limited ("econtext ASIA") (HKEx: 1390) has announced a collaboration with ALL IN PAY Network Services Co., Ltd. ("All In Pay"), a leading integrated processing payment service business in China, to promote cross-border payment services to key regions where econtext Asia operates, including Japan, Hong Kong, Macau, Taiwan, Indonesia, India and Vietnam. This cooperation provides a better way for merchants to enter the Chinese market and provides a more diversified payment service for Chinese consumers to use for global purchases.
According to a third-party estimate, the number of cross-border shoppers in China has already reached 18 million in 2013, with purchases valued at more than RMB200 billion. Phrases like "Hai-Tao" and "Hai-Gou" are getting more popular. It is estimated that the market will reach RMB1 trillion by 2018 and cross-border shopping will be generally accepted by Chinese internet users as a way to shop online.
VeriTrans Inc. ("VeriTrans") and ECONTEXT, Inc. ("ECONTEXT"), both subsidiaries of econtext Asia, are committed to promote e-commerce related payment services in Asia. VeriTrans is one of the market leaders in the online payment solutions industry in Japan and ECONTEXT is a pioneer in providing convenience store payment solutions in the country. In Japan, for example, econtext Asia operates a large online shopping mall targeting Chinese consumers, "Buy-J.com" (http://www.buy-j.com), as well as the overseas purchasing service for the largest price comparison website in Japan, "Kakaku.com" (http://www.kakaku.com). econtext Asia provides purchasing, payment and cross-border logistics service to Chinese consumers who favour Japanese products. Through this cooperation with All In Pay, econtext Asia not only provides a convenient All In Pay cross-border payment experience to Chinese consumers, but also increases the traffic from All In Pay and its partners to merchants in Japan and other regions, and further enriches Chinese consumers' cross-border shopping experience.
In the future, econtext ASIA will continue to work with All In Pay to assist merchants in Japan and other regions to enter the Chinese market and continue to bring an extraordinary cross-border shopping experience to Chinese consumers.
About econtext Asia Limited
Established in September 2012 in Hong Kong and listed on the Hong Kong Stock Exchange in December 2013, econtext Asia Limited (HKEx:1390) is an intermediate holding company under Digital Garage Group. Digital Garage Group's payment segment is operated by econtext ASIA through subsidiaries including VeriTrans Inc., a leading credit card payment service provider in Japan; and ECONTEXT, INC., a leading convenience store payment provider in Japan. To further develop e-commerce payments and related infrastructure services, econtext ASIA also holds interests in VeriTrans Shanghai Co., Ltd., a joint venture in China with the largest local payment service provider; in PT. Midtrans, a company established in Indonesia through alliances with a local conglomerate and other partners; as well as in Citrus Payment Solutions, a major online payment service provider in India. econtext ASIA is dedicated to provide comprehensive payment solutions with a focus in Asia.
Company website: http://www.econtext.asia/
About All In Pay
ALL IN PAY Network Services Co., Ltd ("All In Pay") is a domestic third party payment service provider in China with the largest registered capital. Its business scope covers online, offline and mobile internet payment services. Incorporated in October 2008, All In Pay was among the first to be granted "The Payment Business License" from People's Bank of China in May 2011 and to obtain the cross-border settlement service qualification under the Shanghai Free Trade Zone (FTZ) pilot program. A leading integrated payment service provider in China, the company currently has established 34 provincial branches across more than 280 cities in China. In 2012, the company won the "Jin Jue Award" as the "Highest Customer Satisfaction of a Third-party Payment Service Provider" presented by China E-Finance. In 2014, the company also gained the "CBN Financial Value Ranking (CFV)" accolade in the "Internet Big Data Financial Award". All In Pay strives to provide one stop solutions for fund flows and related value-added services for its clients both in China and overseas.
Company Website: http: //www.allinpay.com
For press enquiries:
Strategic Financial Relations Limited
Vicky Lee +852 2864 4834 vicky.lee@sprg.com.hk
Caley Chan +852 2114 4950 caley.chan@sprg.com.hk
Sunny Liu +852 2114 4955 sunny.liu@sprg.com.hk
Fax: +852 2527 1196
Website: www.sprg.com.hk
Topic: Press release summary
Source: econtext Asia Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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