September 16, 2013
Accenture Helps YSPay Roll Out New Mobile Payments Solution in China
Leading Chinese payment services provider uses Accenture Mobility platform to make mobile payments easier in China
DUBAI; Sept 16, 2013 – YSPay, one of the leading payment services providers in China, has rolled out a new mobile payments solution developed with Accenture. The solution allows YSPay customers – consumers, banks and merchants – to process payments with any type of mobile phone. The companies announced the launch of the solution at Sibos in Dubai.
YSPay’s new mobile payments solution uses phone numbers to process payments – merchants type phone numbers to initiate payment processing and consumers receive a text confirming the payment will be sent. Smartphone users can also upload a mobile application and benefit from richer services such as buying a movie ticket or receiving a coupon.
Accenture leveraged the Accenture Mobility platform to help YSPay rapidly launch and scale its mobile payments solution. YSPay is using the Accenture Mobility platform to connect with banks via China Union Pay – China’s bank card association – and with existing YSPay merchants who have point-of-sale machines in place, as well as with additional merchants, such as call centers and mobile top-up service providers.
With established alliances with China’s major mobile phone operators, the mobile payments solution covers most mobile subscribers in China.
Accenture is also providing application outsourcing services to YSPay, including the ongoing maintenance of the platform and any future enhancements agreed by both parties, allowing YSPay to keep its internal resources focused on core business activities.
“Relying on Accenture’s rapidly deployable, cost-effective card-free solutions, and on its global experience in providing mobile services, we believe that the new mobile payments platform will measure up to world standards,” said YSPay’s chief executive officer Zhang Changjiang. “This new system will significantly improve user experience and enable us to better serve our clients across the country in more innovative ways."
"YSPay operates in a market that leads the world in mobile phone users and has established an extensive partner network with China’s major banks, merchants and mobile phone operators,” said Jeremy Huo, a managing director in Accenture’s Financial Services group in Greater China. “The new mobile payments solution allows YSPay to provide a unique digital experience potentially to China’s 1.1 billion mobile phone users.”
The Accenture Mobility platform allows clients to launch and scale vertical mobile offerings quickly on a variable cost, transaction model basis. This platform is fully equipped with features including published Web services and application programming interfaces (APIs), meaning that YSPay has the capability to integrate the platform with external systems and add new applications and services at any time.
The services provided to YSPay are being delivered through Accenture Payment Services, a business service within Accenture’s Financial Services operating group that provides management consulting, technology and outsourcing services to financial institutions. Its services are designed to bring significant improvements in core payments, card payments, digital payments, transaction banking and compliance, risk and operations. Accenture has supported more than 50 banks worldwide, including some of the largest institutions, on projects that span the payments cycle and range from traditional to multi-channel and mobile platforms.
Accenture is a global management consulting, technology services and outsourcing company, with approximately 266,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is www.accenture.com.
Accenture Mobility plans, implements and manages mobility solutions for businesses and public organizations, including developing and implementing enterprise mobility strategies; incorporating applications and managed services; creating and delivering mCommerce solutions; and supplying credible, business ready Connected Product offerings. Accenture Mobility services are based on deep industry insights and technical expertise that helps clients across all industries achieve growth, efficiency and manage a successful transformation as they adopt the tools of a digital business. Find out more at www.accenture.com/mobility.
YSPay was established in 2000 and is one of the leading bank card acquirer and prepaid card issuer in China with more than 500 employees and $32 million (¥200 million) in reported revenue last year. Focused on financial and point-of-sale (POS) services in China, YSPay has a nationwide sales and service system dedicated to providing merchants with integrated prepaid membership card solutions.
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