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, managing
director of Accenture’s Financial Services group for 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.
About Accenture
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.
About YSPay
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.
Copyright Business Wire 2013