99Bill offers an email and mobile phone number-based online payment platform for e-commerce operators, internet content providers and individual users. In order to send and receive money or make online payments, 99Bill registered users must have an email address or a mobile phone number in China. The 99Bill services currently cover over 2.7 billion domestic and international bank cards, also supporting bank wire and postal wire transactions.
The company is currently involved in partnerships with Industrial and Commercial Bank of China, China Construction Bank, Agriculture Bank of China, Bank of China, China Merchants Bank, China UnionPay, Bank of Communications, Hua Xia Bank, China Everbright Bank, CITIC Industrial Bank, ShenZhen Development Bank and GuangDong Development Bank. PayPal has more than 165 million users in 190 countries and regions. In November 2008, 99Bill had 30 million individual users and 180,000 enterprise users.
According to market research firm IDC, in spite of the economic downturn, Chinas online sales registered a 20 percent year-on-year increase in 2008, reaching EUR 206 billion (CNY 1.95 trillion), as compared to EUR 170 billion (CNY 1.61 trillion) in 2007.
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