We have learnt from the Bestpay Co. Ltd of China Telecom, after more than three years’ development, account numbers of Bestpay have exceeded 100 million. At present, the company is actively applying for various kinds of financial licenses.
Data shows that Bestpay Co. Ltd was founded in March 2011, and completed transactions of CNY133.1 billion in its accounts by 2013, with an increase of 227%; individual account users reached 58.24 million with an increase of 242%; enterprise account numbers reached 126,000 and businesses account numbers achieved 45,000 with an increase of 263%.
In August of this year, China Telecom revealed in the announcement of interim results, payment transactions through Bestpay was CNY130 billion in the first half of 2014. According to the prediction of Gao Hongliang, the general manager of Bestpay, payment transactions by Bestpay will reach CNY320-330 billion this year, and the revenue of the company will reach CNY1.3-1.5 billion, with a profit of about CNY30 million.
Gao Hongliang also said that Bestpay has developed UIM card integrated with USBkey, which is expected to be used in the existing Bestpay users soon.
On the breakthrough of 100 million account numbers of Bestpay, the assistant analyst from Internet financial department of CECRC Qian Haili said, in mobile payment fields, the main advantage of operators is the huge user base, and the mobile subscribers are used to pre-paid, so they can transform into mobile payment users in an easier way, that’s why it can develop 100 million users in a short period of time. According to the operation data of July that published by China Telecom, the operator’s mobile subscribers has reached 180 million.