UMPAYs key shareholders include China Mobile, the worlds largest mobile carrier with more than 230 million subscribers, and China Union Pay, a national payment network set up by a consortium of more than 100 banks and with a total of more than 800 million bank card users in China. Founded in 2003, UMPAY has attracted 3 million registered users to date and signed up with 8 Chinese banks including Industrial and Commercial Bank of China, Bank of China and Bank of Communications to offer mobile wallet services. At present, UMPAYs nationwide coverage through its authorized numbers 7777 for SMS, *188# for USSD and 12588 for IVR service offers a range of payment functions. These services include the payment of China Mobile phone bills and utilities bills, the recharging of China Mobile phone cards and retail services ranging from purchasing of lottery tickets to plane tickets. Under the agreement, TOM Online will be the wireless and online payment portal company partner of UMPAY and will work with UMPAY to offer more comprehensive mobile payment products. Leveraging its vast online and wireless resources, including its wireless internet user base of more than 70 million, TOM Online will help further expand UMPAYs merchant and user bases to accelerate the adoption of this secure and convenient mobile payment service.
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