CCID Consulting: ChinaPNR is China's Third Largest Third-Party Payment Services Provider

SHANGHAI, July 31, 2013 /PRNewswire/ -- According to a research report on the development of the third-party payment industry in China during the first half of 2013 recently released by CCID Consulting, transactions (online and offline) through third-party payment systems in the first six months of this year grew steadily to 6.91 trillion RMB ($US1.1 trillion), having already achieved 66 percent of the 10.4 trillion RMB ($US1.66 trillion) transacted for the whole of 2012. Among the players, UMS holds the lead, followed in order by Alipay and China Payment and Remittance Service (ChinaPNR) (6.2 percent), a leading financial payment company in China.

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ChinaPNR president Zhou Ye previously disclosed that as of June of this year, both the company's transaction volume and revenue exceeded that for the whole of 2012. With over 1 billion RMB ($US160 million) in 2012 revenue, ChinaPNR ranked 13th in the 2012 Annual Revenue of Shanghai-based Software Companies list published by the Shanghai Municipal Commission of Economy and Informatization.

Financial payment services-focused ChinaPNR maintains its leadership in the air travel and wealth management payment sectors as well as in order handling and processing for small offline retailers, demonstrating its strong market competitiveness and faster growth rate than the industrial average. Since entering the air travel payment sector in 2007, ChinaPNR has maintained a market share of around 50 percent.

ChinaPNR's ttyfund.com platform now leads the wealth management payment sector with more than 2 million users. In 2011, ChinaPNR shifted its strategy to a focus of offering its services to brick and mortar merchants, leading to breakthroughs in providing efficient order processing services to small businesses with its innovative Independent Sales Organization (ISO) model. The company shortened the average amount to time to bring a new merchant online from one week or longer to "T+1" days, with quick turnaround for installation of the transaction processing equipment, transaction settlement software and other services. The number of ChinaPNR's merchants surged as the efficiency of services improved, allowing for the collection of more credit data about merchants on the trading platform. According to the latest data, ChinaPNR has become a leading third-party payment service provider for over 500,000 small- and medium-sized businesses.

Given the increasing number of small businesses, ChinaPNR has also made inroads into value-added financial services. During the Lujiazui Forum 2013, ChinaPNR announced the company, in collaboration with banks, would provide loans for its tens of thousands of small- and medium- sized businesses both online and offline, in a move to further meet the financial service needs of these businesses.

Furthermore, driven by the "small business strategy," ChinaPNR has launched a variety of value-added services including the mobile client for small- and medium- sized businesses in 2013, and has equipped regional service providers with special receipt vehicles, allowing the company to better serve regional small businesses with innovative financial payment services. The rapid growth in transactions and market share demonstrates the high recognition ChinaPNR has received from its clients.

About ChinaPNR

ChinaPNR is positioned as a financial payment expert, providing a comprehensive suite of payment services, including online payment, financial planning for funds, POS receipt and mobile payment, as well as offering comprehensive customized payment solutions for business customers.

ChinaPNR, founded in July 2006, is headquartered in Shanghai and has opened subsidiaries in over 30 cities across China, including Beijing, Guangzhou, Shenzhen and Chengdu. The company's core team is comprised of experienced managers drawn from across the country's financial sector. The company is among the first firms to be awarded the license to operate a payment services entity in China and received the license from the People's Bank of China in May 2011. It is also the first firm to receive approval from China Securities Regulatory Commission to handle online sales, payment and clearing services for funds, and is the vice chairman unit of the online payment working committee of Payment & Clearing Association of China.

ChinaPNR has maintained super-rapid growth since its inception. The firm handled payments and clearing amounting to 300 billion yuan (approx US$48.9 billion) in 2011 and 617.8 billion yuan (approx US$100.6 billion) in 2012. The company has currently reached strategic partnerships with 48 funds, all of the country's airlines, 360buy.com, suning.com, among many other reputable companies across the country.

To learn more information about ChinaPNR, please visit www.chinapnr.com.

SOURCE China Payment and Remittance Service Co., Ltd.