中國專業付款企業：Yeepay

Abstract

In a market where most other third-party payment companies focus on online or mobile-based platforms, YeePay has instead focused on telephone payments. Yeepay management believes that going "back to the basics" with telephone payments will better encourage Chinese users to acquire the habit to make payments through third-party payment companies rather than with cash. Yeepay also offers online payment and mobile payment services which are additional payment channels with which the company will rely on for future growth.

This report investigates Yeepay' s three payment channels, as well as its services, investors and partners, and prospects for growth in China' s payment industry.

Key Findings:

• YeePay focuses on IVR-based telephone payments and has an integrated solution with four of China' s main banks.
• The company offers payment services via three different payment channels - telephone, online, and mobile.
• YeePay has replaced PayPal China as Eachnet' s exclusive payments provider.
• The management team has strong ties to the wireless industry in both China and in the Silicon Valley.

Table of Contents

1 Industry Overview: Key Factors Shaping Third-Party Payments in China

• 1.1 Continued preference for cash payments, but bank card payments rising
• 1.2 Credit card use remains low; debit cards widespread
• 1.3 Limited coverage of non-cash payment services
• 1.4 China UnionPay' s bank card monopoly
• 1.5 Quasi-online payment systems an interim solution
• 1.6 Two ISPs, 162 million Internet users
• 1.7 Two mobile operators, 500 million subscribers
• 1.8 Contactless smartcard use increasing but largely limited to buses and subways
• 1.9 Government regulations and the "national interest"

2 YeePay - Back to the Basics With Telephone Payments

• 2.1 Company Overview
  • 2.1.1 Ownership
  • 2.1.2 Organizational Structure
  • 2.1.3 Management Team
• 2.2 Business Performance
  • 2.2.1 Financial Performance
  • 2.2.2 Users
• 2.3 Services and Channels
  • 2.3.1 Telephone Payment
  • 2.3.2 Online Payment
  • 2.3.3 Mobile Payment
  • 2.3.4 Business and Operation Model
• 2.4 Markets and User Demographics
• 2.5 Marketing and Branding
• 2.6 Partnerships
  • 2.6.1 Bank Partners
  • 2.6.2 Merchant Partners
  • 2.6.3 Technology Partners
• 2.7 Competitive Analysis
  • 2.7.1 Strengths
  • 2.7.2 Weaknesses
• 2.8 Outlook

List of Figures

• Figure 1: Credit cards issued in China and in the US (M)
• Figure 2: Internet Users in China, 2001-2006 (M)
• Figure 3: Mobile Subscribers in China, 2002-2010F (M)
• Figure 4: China government groups involved in third-party payment regulation
• Figure 5: YeePay Registered Users, 2006-2007F (M)
• Figure 6: YeePay Telephone Payment Partners
• Figure 7: YeePay Key Partners and Online Services
• Figure 8: YeePay Operation Model
• Figure 9: YeePay Fee Structure
• Figure 10: YeePay Logo
• Figure 11: YeePay Bank Partners
• Figure 12: YeePay Key Merchant Partners