SmartPay Launches 172.com Payments Portal In China

172.com provides a convenient, centralized source of information for these transactions, customer care, back office support and other necessary functions. In addition, 172.com will allow the SmartPay community to communicate more with each other, share services amongst one another, including mobile-based peer to peer payments. Most importantly, 172.com will allow an increasing universe of merchants to integrate with, and access, SmartPay's growing userbase to effect payments.

SmartPay believes 172.com will also serve as an important tool for the network of agents, known as "SmartPay Dealers", who operate in over 10 provinces through SmartPay's Dealer Program. These agents utilize SmartPay to process payments on behalf of end customers. 172.com will further expand these efforts and improve the scope and efficiency of this network.

SmartPay has built the most extensive network of fully integrated banks into this platform. This includes direct connection with over 35 local branches of China's major banking institutions, as well as headquarters-level connections for certain special services. SmartPay has also built a widespread merchant network focusing first on major telecom operators, mobile phone network operators and utilities.

Greg Shen, CEO of SmartPay, commented, "The new platform is a logical extension of the head start SmartPay has had in developing mobile and telephone-based payments. It will provide extensive services and marketing solutions for our users, merchant partners, and network of bank partners. Most importantly, this will challenge and allow SmartPay to continuously develop better payment services to meet different requirements of our customers."