BEIJING, April 19, 2012 /PRNewswire-Asia/ -- Trunkbow International Holdings Limited (NASDAQ: TBOW) ("Trunkbow" or the "Company"), a leading provider of Mobile Payment Solutions ("MPS") and Mobile Value Added Solutions ("MVAS") in China, today announced that it has extended its cooperation with China Unicom through the deployment of a new terminal-based MPS platform in Heilongjiang Province. Installation is expected to begin in the second quarter, with services scheduled to launch in the second half of 2012.
"We are pleased to extend our MPS footprint into Heilongjiang Province and bring this technology to China Unicom's 5.7 million subscribers in the region. This represents a sizeable opportunity, as we will simultaneously roll out user authentication and payment processing services, making the solution more attractive to end-users and increasing the value proposition for retailers, enterprise and institutional users," said Mr. Qiang Li, CEO of Trunkbow. "Similar to our efforts in Sichuan Province, we are working closely with our partners at China Unicom to build awareness of the significant benefits of MPS technology among merchants and corporate IT executives, with a goal of evangelizing the technology and supporting broad adoption of MPS for multiple applications. Handset technology and wireless network infrastructure are improving rapidly, and we are confident that this ongoing mobile revolution will help drive mass-market usage of MPS as we enhance the solution through the addition of new features and functionalities."
Under the agreement, Trunkbow will receive recurring revenue payments based on a percentage of monthly function fees and transactions processed using the MPS platform. Trunkbow and China Unicom plan to jointly market this MPS technology to retailers for phone-based payments at the point-of-sale, and to corporations, academic institutions and other organizations as a SAAS and enterprise automation tool for user authentication and internal payment capabilities.
This platform will allow China Unicom's 5.7 million subscribers in Heilongjiang province to make purchases at retail locations using their mobile phones at the point-of-sale, and will function as a convenient, secure electronic identification card for students and employees at schools and other locations that adopt the technology.
Trunkbow International Holdings (NASDAQ: TBOW) is a leading provider of Mobile Payment Solutions ("MPS") and Mobile Value Added Solutions ("MVAS") in PRC. Trunkbow's solutions enable the telecom operators to offer their subscribers access to unique mobile applications, innovative tools, value-added services that create a superior mobile experience, and as a result generate higher average revenue per user and reduce subscriber churn. Since its inception in 2001, Trunkbow has established a proven track record of innovation, and has developed a significant market presence in both the Mobile Value Added and Mobile Payment solutions markets. Trunkbow supplies its mobile payment solutions to all three Chinese mobile telecom operators, as well as re-sellers, in several provinces of China. For more information, please visit www.trunkbow.com.
Safe Harbor Statement
This press release contains forward-looking statements that reflect the Company's current expectations and views of future events that involve known and unknown risks, uncertainties and other factors that may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such forward looking statements involve known and unknown risks and uncertainties, including but not limited to uncertainties relating to the Company's relationship with China's major telecom carriers and its resellers, competition from domestic and international companies, changes in technology, contributions from revenue sharing plans and general economic conditions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. You should understand that the Company's actual future results may be materially different from and worse than what the Company expects. Information regarding these risks, uncertainties and other factors is included in the Company's annual report on Form 10-K and other filings with the SEC.
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SOURCE Trunkbow International Holdings Limited