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China Post Launched Online Transaction Project
China Postal Bureau recently has signed an agreement with Shanghai-based Huateng Software System Co.,a payment solutions provider, to launch a project which will enable its 110 million account holders to make transactions on the Internet.
The first phase of this project, dubbed "E-POST," is to be completed by April of 2001 and will involve the deployment of 16 payment gateways in cities and provinces all over the country with a settlement center in Beijing, according to the agreement.
E-POST will launch China Post's "green card," the bureau's ATM /debit card. The card is named for its color, also that of Chinese postal uniforms. By extending its reach online, the bureau's over 13 million green card holders will be able purchase items from online merchants, pay bills, and purchase stamps, money orders and periodicals.
Huateng Software was previously involved in creating ATM networks and payment gateways in Shanghai, and launched a payment solutions portal, ChinaPay.com, earlier this year.
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