BesTV, Bank of China Launch TV Banking Service

Oriental Morning Post, 3/21/12

On March 20, Shanghai Media Group IPTV subsidiary Shanghai BesTV New Media (600637.SH) and the Bank of China jointly announced the launch of a smart-television-based "home banking" service. Through the new service, subscribers will be able to use compatible remote controls, televisions, and set-top boxes (STBs) to conduct transactions similar to online and mobile banking transactions. In addition to television-based payment functionality, the new service also permits account balance lookups, scheduled payments for local services and utilities, account transfers and wire transfers, and fund and government bond investment services.

As part of its new partnership with the Bank of China, BesTV secured a line of up to RMB 4 bln in credit.

Editor's Note: For more background on this topic, please see "BesTV Secures RMB 4 Bln Line of Credit" MD 3/16/12 issue.

Keywords: VAS Bank of China Shanghai Media Group IPTV television BesTV 600637.SH

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