China Securities Journal, 5/31/11
Sun Taoran, Chairman and President of Chinese offline billing service provider Lakala Banking Services, recently said that the company will deploy 1 mln POS terminals over the next three years. The company already has more than 50,000 POS terminals in over 200 cities nationwide.
Lakala completed more than 13 mln transactions nationwide in March 2011, with a total transaction value of more than RMB 20 bln.
Editor's Note: For more information on this topic, please see "Lakala 2010 Transactions Reach RMB 150 Mln," MD 1/21/11 issue.