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Trunkbow International Holdings Ltd. (TBOW) Inks Deal with Icafe to Provide Payment Options and Expand Market Presence

May 02, 2011 2:44 PM ETTBOW
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Trunkbow International Holdings Ltd., a leading provider of Mobile Payment Solutions (MPS) and Mobile Value Added Solutions (MVAS) in the People’s Republic of China (PRC), recently announced that it has entered a strategic cooperation agreement with Hangzhou Icafe Technology Co Ltd., a leading provider of Internet cafe desktop application services in the PRC, in which Trunkbow will offer payment applications and services for Internet cafe owners and individual users.

Trunkbow will integrate its mobile payment solutions into Icafe’s Internet cafe-based entertainment platform, which targets millions of paying users that visit more than 90,000 Internet cafe locations. The Trunkbow platform will provide Icafe with secure payment processing and account management via a desktop application, mobile app, or a mobile payment-enabled POS terminal.

“We are excited to partner with Trunkbow and to bring their innovative MPS technology to our desktops across the country. I believe that the integration of their payment platform will bring substantial value and convenience to our 50 million subscribers. I am confident that the addition of MPS on our desktops will help drive continued revenue and market share growth, while further differentiating Icafe from other providers of Internet cafe desktop application services in the PRC,” Icafe Chairman Hua Yong stated in the press release.

Li Qiang, Trunkbow CEO, said the deal with Icafe will increase Trunkbow’s position and brand awareness in the industry.

“This agreement with Icafe is a significant step forward for Trunkbow and an important validation of our technology. With a nationwide footprint and over 50% of China’s Internet cafe desktops, Icafe is the ideal partner to bring our industry-leading MPS technology into Internet cafes as we continue growing our user base in an effort to bring MPS to the greater population,” Qiang stated. “This deployment will further expand our MPS presence, both geographically and demographically. Our platform is currently in use by merchants and end-users in 16 provinces across China, and we are working aggressively to expand its coverage by continuing to build brand equity and leveraging our strong R&D capabilities through the introduction of new products. Our current pipeline includes several exciting payment applications and services scheduled to be released later this year, which will increase the value we bring to merchants, mobile operators, and consumers.”

For more information visit trunkbow.com

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