Important new agreement for Lotaris in China

Lotaris today announced the conclusion of a comprehensive agreement with AliPay to provide extensive coverage of local China payment methods for the Lotaris Platform. Lotaris CFO, Mr. Jerome Lepeu, stated that whilst Lotaris already supported credit cards in China, this agreement extends coverage to local China debit cards and AliPay wallet holders. "It is also highly suitable to micro-payment transactions as it does not have any fixed or minimum transaction costs", he said.
 
The integration of AliPay into the Lotaris Platform means that these new payment methods for China are available in all Lotaris commerce services, incorporated seamlessly into the in-app purchase flows driven by the multiple business models that are available.
 
Asia General Manager, Mr. David Keast, explained that Lotaris is expanding its micro-payment network in Asia in order to better serve its software developer and content distribution platform customers.  "A key element of our micro-payment network is exemplified with this agreement, in that Lotaris will be able to pay its customers and partners outside of China in US dollars or other foreign currencies", he said. "I am very pleased that we now have China as a key market in our network".
 
Launched in 2004, Alipay is a commonly used third-party online payment solution in China. It provides an easy, safe and secure way for millions of individuals and businesses to make and receive payments on the Internet. Alipay has more than 800 million registered accounts as of December 2012, set a record for the highest daily number of transactions, processing 105.8 million payments during the 24-hour period, with over 20 billion RMB. Alipay partners with more than 100 financial institutions including leading national and regional banks across China as well as Visa and MasterCard to facilitate payments in China and abroad. In addition to Taobao Marketplace and Tmall.com, Alipay provides payment solutions for more than 460,000 merchants, covering a wide range of industries including online retail, virtual gaming, digital communications, commercial services, air ticketing and utilities.