IPS to IPO in 2013
China Business News, 6/20/11
Luan Yumin, chairwoman of Chinese third-party payment service International Payment Solutions (IPS), recently announced that the company has begun preparations to enter the capital market through an IPO sometime in 2013.
IPS CEO Mao Junmin revealed that the company's operations have recently focused on developing comprehensive solutions across the entire financial supply chain in partnership with banks, financial guaranty insurance companies, and mobile application developers. In addition, IPS has also established an overseas customer service department aimed at providing financial management, logistics, and warehousing solutions for independent foreign trade websites.
According to an inside source, Chinese e-payment provider China Payment and Remittance Service (ChinaPnR) has a similar target to IPO within the next year or two. Aside from that, Chinese third-party payment processor 99Bill has begun plans of its own to IPO.
A senior employee with ChinaPnR revealed that IPS will take advantage of its position as one of China's first third-party payment license holders to build up its client and transaction base, while at the same time accumulating experience with payment services for fast-moving consumer goods (FMCG). ChinaPnR plans to establish a new full-time department for FMCG payment services later this year.
Keywords: Luan Yimin online payment Mao Junmin wireless Internet IPO mobile application license overseas 99Bill e-payment IPS third-party payment logistics ChinaPnR
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